Cyprus to invest 3.5 billion euros in infrastructure projects by 2027

On September 4, 2026, President Nikos Christodoulides announced that the Cypriot government plans to approve infrastructure projects totaling 3.5 billion euros, with implementation scheduled to begin in 2027. Speaking at the inauguration of a cultural center in Dymes, the President urged local communities to expedite the preparation of project proposals so they can be ready for final governmental approval within the coming year.

The funding for this massive initiative is linked to negotiations regarding the European Union's Multiannual Financial Framework for 2028-2034. Approximately 2.5 billion euros are expected to be sourced from EU funds, while the remaining 1 billion euros will be covered by national resources. President Christodoulides noted that these discussions are in their final stages, with a political agreement anticipated by the end of 2026.

Beyond infrastructure, the President addressed national energy security and the country's progress toward the Schengen Area. He emphasized efforts to complete gas infrastructure at Vasiliko and ongoing negotiations with major energy companies regarding the allocation of additional exploration blocks in the Exclusive Economic Zone. Additionally, he highlighted the European Commission’s positive assessment regarding Cyprus’s potential accession to the Schengen Zone, noting that the country is working on a structured plan to satisfy all requirements.