Despite the significant results that have been achieved, there is still a significant way to go for the most effective and optimal utilization of the resources of the Recovery and Resilience Mechanism (RMM), said the Minister of Finance Makis Keraynos in his greeting at the "3rd Annual Event for the Recovery and Resilience Plan of Cyprus", in Nicosia. As he said, with the disbursement of the fourth tranche of sponsorship, Cyprus will have received 50% of the Mechanism's total sponsorship allocation for Cyprus.
"To date we have achieved significant results, but there is still a long way to go to achieve our final goal, which is none other than the most efficient and optimal use of the resources of the Recovery and Resilience Mechanism, which will bring the intended benefits for the Cypriot economy, Cypriot society, Cypriot citizens and Cypriot businesses", he noted.
He added that in an ever-changing geopolitical and geoeconomic environment, the shocks and challenges are enormous and the ability to adapt and respond promptly to them is imperative.
"Europe has shown that it can adapt and respond. Proof of the Plan for which this event was organized today. Here I feel the need to stress, also based on relevant discussions with my counterpart Ministers of the Member States, that maintaining the required flexibility is key to the continued successful achievement of our common goals", he said.
The Minister referred to the cooperation and commitment of all those involved in our common commitments through the Plan and emphasized the recent positive evaluation, with the exception of one of the 38 milestones, by the European Commission on the Request submitted by the Republic of Cyprus last December, the which paves the way for the disbursement of the second and third tranches of funding from the Recovery and Resilience Facility.
It is noted that the request for the disbursement of the fourth tranche of sponsorship has already been submitted to the European Commission last July.
He noted that with the disbursement of this fourth tranche, Cyprus' total receipts from the European Mechanism, from 2021 onwards, will amount to approximately 500 million euros, i.e. approximately 50% of the Mechanism's total funding allocation for Cyprus . The next goal until the end of the year, he said, is to submit the application for the disbursement of the 5th sponsorship installment, for another 120 million euros.
"We are implementing an ambitious Plan, which involves significant investments to strengthen the resilience of the economy with the main objective of economic, social and environmental sustainable development", he noted.
He added that the current Government and President Nikos Christodoulidis are giving special importance and attention to the successful implementation of all the Plan's milestones.
As the Minister said, in the two years remaining for the completion of our national Plan, the goal is the effective implementation of the Plan, implementing all the reform measures and completing all the investments included in the Recovery Plan.
"The absorption of resources from the Mechanism is not an end in itself, but the essence, which is the real impact and the chain benefits resulting from the achievement of each goal and milestone, both immediately and over time," he explained.
Mr. Keravnos also mentioned that the great importance and importance of the Resilience and Recovery Plan lies in the adoption of amending bills, regulations or other institutional frameworks that complete or substantially develop important reforms in our country in areas that concern and affect sustainable development and competitiveness of the Cypriot economy and strengthen the rule of law and social welfare.
In his own greeting, the acting Head of the Delegation of the European Commission in Cyprus, Nicolas Issaris, said that the recent positive preliminary assessment of the second payment application of the National Recovery and Resilience Plan received by Cyprus is proof that the work is being done and must continue.
He added that the Cyprus plan with a package of mutually beneficial proposals and a budget of 1,2 billion euros in support of reforms and investments, addresses the socio-economic needs of Cyprus for a fair, green and digital transition.
"The combination of reforms and investments is not accidental. It is the recognition that all agencies, the state, the private sector, the social partners and also the European institutions must contribute to this effort. We must continue committed to the implementation of the goals of Cyprus and the European Union through the national plan", he said.
He added that the stake is high, but the successful completion of the plan will be a brilliant milestone in the modern history of Cyprus and Europe. As he said, the Recovery and Resilience program is the European response to the challenges of today and tomorrow, "the way to achieve our collective goals that will ensure the resilience of our economy and our society to future challenges".
"Only in this way will we be able to upgrade the quality of life of Cypriot and European citizens in complete harmony with the environment and with the ability to take advantage of the opportunities offered by the technological developments of the present and the future," he said.
He added that through the Recovery and Resilience plan, the foundations are being laid so that present and future generations can make the most of the new opportunities presented.
Finally, he mentioned that the effort and goals through the Recovery and Resilience plan are common, the European strategies are also Cypriot and the success of Cyprus is also European, as he said.