Category: Cyprus News Agency

The results of the annual survey that records investment trends, priorities, and challenges of European businesses, the EIB Investment Survey 2025, were published on Tuesday by the European Investment Bank (EIB). The survey, conducted in collaboration with Ipsos Public Affairs, is based on data from approximately 12,000 companies across all EU countries as well as the United States. The report’s key findings present a picture of resilience but also challenges, particularly in an environment of geopolitical uncertainty and economic instability.

As regards Cyprus, the country is among those with the highest percentage of companies participating in international trade, whether through exports, imports, or both. However, Cyprus lags behind in investments for climate adaptation and energy efficiency compared to other European countries.

Regarding investment trends and priorities, the survey shows that 86% of European companies made investments in the past year, a figure that remains stable compared to 2024 (87%). However, expectations for increased investment are more modest, with the net balance of companies anticipating growth falling to 4% from 8% the previous year.

European companies focus primarily on replacement investments (43%) and less on expanding production capacity (26%), in contrast to US companies, where the corresponding figure is 37%. Some 35% of European companies’ investments are directed toward intangible assets such as research and development (R and D), training, software, and organizational processes, while 13% is allocated to the development of new products and services. Large companies and manufacturing firms show greater resilience in investment, while the construction sector is more cautious.

With regard to international trade and supply chains, the survey paints a picture of adequate integration of European companies into global trade, with manufacturing and large companies holding the highest positions. However, changes in tariffs and regulations are a significant source of concern, with 77% of US companies expressing worry compared to 48% of European companies. European companies adopt a more balanced approach, with only 7% reducing the share of imported goods and services and 19% diversifying or increasing the number of countries from which they import.

On the green transition and climate action, 92% of European companies are taking measures to reduce greenhouse gas emissions, but Cyprus ranks last, with only 69% of companies investing in this direction. Only 20% of Cypriot companies have set targets for reducing emissions, the lowest percentage in the EU (EU average: 47%). European companies invest more in waste reduction, energy efficiency, sustainable transport, and green innovation. However, despite Cyprus’s high participation in international trade, its investments in energy efficiency remain below the European average.

Additionally, 68% of European companies have suffered losses due to extreme weather events such as floods, fires, or storms. Some 53% of European companies are taking measures to address natural risks related to climate change, compared to 55% in the US.

Regarding digitization and the use of artificial intelligence, 37% of European companies use AI, a figure similar to the 36% in the US, while Cyprus ranks sixth from the bottom at 23%. However, only 55% of European companies using AI apply it to at least two internal processes, compared to 81% in the US. This indicates that European companies could better leverage the benefits of AI by systematically applying it across a broader range of activities.

The main barriers to investment for European companies remain uncertainty (83%), lack of skilled personnel (79%), and high energy costs (75%). Some 16% of European companies benefit from policy support, primarily for the green transition (41%) and innovation (29%).

European companies lag behind their American counterparts in terms of women’s representation in senior management and company ownership, with Cyprus standing out for its strong performance in gender equality, ranking second in the EU and first in Southern Europe.

European University Cyprus (EUC) has once again been recognized as one of the top employers in Cyprus, ranking among the national Top 4 Workplaces for the fourth consecutive year. On a European level, EUC also earned a prestigious spot on the ‘Great Place to Work® – Best Small and Medium Workplaces in EuropeS’ list, securing the #71 position among the 100 best work environments. This remarkable achievement reaffirms EUC’s dedication to fostering a positive and inclusive workplace.

The certification followed a rigorous evaluation process that assessed EUC’s work environment and organizational culture. The results underscore the university’s exceptional HR practices and continuous efforts to retain our supportive, innovative and equitable workplace of more than 1500 employees.

This distinction highlights the university’s commitment to providing a workplace that fosters innovation, equality, collaboration, and continuous professional growth. European University Cyprus has introduced robust gender equality policies, enforces a zero-tolerance approach to workplace harassment, and continually enhances its HR practices and employee benefits to address the evolving needs of its staff, ensuring an environment where every employee can thrive.

Beyond academic and research excellence, European University Cyprus places strong emphasis on the professional development of its employees, by giving them the opportunity to participate in local and European initiatives, including corporate training programs, ERASMUS exchanges, and specialized conferences both in Cyprus and abroad. This continuous investment in employee development and engagement is reflected in its successful ranking among Europe’s leading workplaces.

The strength of EUC lies in its team-oriented approach, where employees work collaboratively, participate equally, and invest collectively. This shared commitment sets the University apart and distinguishes it within the academic landscape.

Loukia Polygerinos-Tzyrkas, the Director of Human Resources at EUC, stated: ‘It is with great pride that we received this recognition, which attests to the high standards of our working environment. We remain committed to offering our employees the right conditions and resources for continuous skill development, fostering academic excellence and innovation.’

As one of Cyprus’s leading universities, European University Cyprus has 7 Schools, offering more than 80 undergraduate, graduate, and doctoral degree programs, with a student body of more than 12,600 students. Over the past decade, EUC has rapidly modernized and expanded the curricula on offer, introducing innovative academic programs and enhancing the scope and quality of higher education in Cyprus. This academic leadership goes hand in hand with EUC’s commitment to fostering an outstanding workplace environment, where excellence in education is matched by excellence in employee experience.

A significant milestone in the European University Cyprus’s international expansion strategy was the inauguration of the EUC Medical School in Frankfurt in 2022, making EUC the first Cypriot university with a presence abroad. This was followed by the completion of a major campus expansion in Nicosia in 2024. The new state-of-the-art building was designed to address the growing needs of the School of Medicine and School of Dentistry, as well as the Health Sciences programs. Emphasis has been placed on the establishment of the new School of Veterinary Medicine, featuring fully equipped laboratories and advanced infrastructure that comply with the highest European standards.

Looking ahead, EUC remains committed to strengthening the scientific community in Cyprus and positioning itself as a leading hub of education, research, and innovation for the wider Eastern Mediterranean region.

European University Cyprus is part of Galileo Global Education, the largest network of higher education institutions in Europe, comprising 54 academic institutions, 91 campuses across 18 countries, and over 300,000 students. It is synonymous with quality education, high-tech innovation, industry and community engagement, and the strong employability of its students and graduates.

The reform of the institution of the Attorney General through the separation of its dual role was the focus of the Annual Conference of the Law Office Academy in Nicosia. President Nikos Christodoulides, House of Representatives President Annita Demetriou, Attorney General George Savvides, and European Commissioner for Justice Michael McGrath addressed the conference themed ‘Historical Evolution, Prospects and Challenges for the Institution of the Attorney General of the Republic”, as Cyprus moves forward with plans to reform one of its most powerful constitutional institutions.

President Christodoulides calls for modernisation of the Attorney General’s institution

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President Nikos Christodoulides stressed the need to modernise the institution of the Attorney General through the separation of its existing dual role. He said the reform responds to society’s demand for greater independence, transparency and the avoidance of potential conflicts of interest.

‘The separation of this dual role is necessary as a measure of modernisation and as a requirement of the society for reasons of independence, full transparency and the avoidance of possible conflicts of interest or roles,’ President Christodoulides said.

The proposed government reforms, he explained, would assign the Attorney General’s criminal prosecution powers to a new Office of the Prosecutor General, while the Attorney General would remain the state’s legal adviser and head of the Law Office.

He noted that the reform aligns with recommendations by the Venice Commission, the European Commission’s Rule of Law reports, and GRECO, adding that it would bring Cyprus closer to European and international standards.

President Christodoulides acknowledged the reservations expressed by the Attorney General regarding the constitutionality of the legislative proposal, saying that such concerns are fully respected and will be discussed within the framework of dialogue.

EU backs Cyprus reform to separate Attorney General’s dual role, says Commissioner McGrath

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Addressing the conference in a recorded video message European Commissioner for Justice Michael McGrath said that separating the dual role of the Attorney General and establishing an independent Office of the Prosecutor General would be a crucial step toward strengthening both accountability and judicial independence in Cyprus.

McGrath reaffirmed the European Commission’s strong support for the ongoing plans to reform the institution and to implement the relevant recommendation included in the EU’s annual Rule of Law Report on Cyprus.

‘This is indeed a unique opportunity to strengthen the institution’s independence and also its accountability, and to bring it more into line with modern concepts of the rule of law,’ McGrath said. He added that the separation of the dual role of the Attorney General and the creation of the Office of the Prosecutor General would ‘benefit both the independence of justice, but also the fight against corruption,’ while reinforcing democratic checks and balances and improving the business environment.

He went on to highlight the Commission’s efforts to strengthen the justice sector through judicial training and digitalisation, noting that a new EU judicial training strategy will promote digital literacy and the use of artificial intelligence to make justice systems more efficient and resilient.

Referring to the European Public Prosecutor’s Office (EPPO), the Commissioner described it as ‘absolutely essential’ in protecting the Union’s budget and taxpayers’ money. He announced that the Commission will publish an evaluation report on the EPPO in June next year, to be followed by a proposal to revise its founding regulation and invited Member States to contribute their views to the process.

House President: AG reform strengthens independence and accountability

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In her address, House President Annita Demetriou said that the discussion about the separation of powers of the Attorney General of the Republic of Cyprus does not aim to breach the institution, but to ensure and strengthen the independence, accountability and effectiveness of our legal system, for the benefit of the Republic.

Demetriou added that the Law Office of the Republic is not a distant or inaccessible institution but an institution ‘deeply connected to our everyday life, to the essence of the Rule of Law, to the functioning of the Republic and, ultimately, to the pursuit of a better life for all citizens.’

The institution of the Attorney General of the Republic, she noted, was called upon in the past to address political instability and complex constitutional challenges adding that today “it is called upon to respond to even more complex and specific challenges, since modern society requires absolute transparency, accountability and efficiency. And the institution of the Attorney General of the Republic is at the forefront of this challenge.”

Attorney General calls for legislative action to safeguard institutions

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Speaking at the Conference, the Attorney General, George Savvides, called on the House of Representatives to proceed with legislative measures to address the deliberate undermining of state institutions and to safeguard constitutional order.

Savvides warned that the exercise of such responsibilities is often met with criticism and distortion, amplified by the impact of social media, which shapes public perception through misinformation or incomplete legal know-how. Savvides said it was time for Parliament to move forward with legislative measures, bearing in mind that the deliberate undermining of institutions destroys democracy and is not protected by the right to freedom of expression.

Addressing the ongoing debate on the reform of the Attorney General’s Office, Savvides reiterated his ‘serious reservations regarding the constitutionality’ of the proposed restructuring, particularly the separation of powers between the Attorney General and a potential new Prosecutor General’s Office. He noted that while the reform draws on recommendations from international bodies such as GRECO and the European Commission’s Rule of Law Report, it was prepared by the Governent ‘without prior consultation’ with the Law Office.

Savvides also reaffirmed his Office’s commitment to combating corruption, describing it as ‘a continuous and evolving challenge.’ He pointed to the establishment of a special Task Force in 2022 that coordinates all agencies handling corruption cases and to positive feedback from the European Commission’s 2025 Rule of Law Report, which acknowledged Cyprus’ progress in this area.

President of Cyprus, Nikos Christodoulides, departs today for Sharm el-Sheikh, Egypt, following an invitation by the US President and the President of Egypt, to attend the signing ceremony of the agreement for a ceasefire in Gaza and the release of the hostages.

According to a written statement by Government Spokesman Konstantinos Letymbiotis, the participation of the Republic of Cyprus in the Sharm el-Sheikh Peace Summit constitutes a clear recognition of Cyprus’ upgraded role as a reliable interlocutor and a bridge of cooperation between Europe and the Middle East.

The Spokesman notes that the agreement for Gaza is a historic step towards ending a tragedy that has shocked humanity and restores hope for peace and stability in the Middle East.

The heads of state and government will be welcomed by President of Egypt, Abdel Fattah al-Sisi, and at 15:00 a family photo will follow.

The signing ceremony of the Sharm el-Sheikh Agreement to End the War in Gaza will take place five minutes later, while at 15:15, the Summit will begin with the opening remarks of the President of Egypt and the intervention of the US President.

“The Republic of Cyprus is among the European states that were jointly invited by President Trump and President Sisi to attend the ceremony. This event confirms the international appreciation for the contribution of Cyprus to regional humanitarian and diplomatic initiatives, in particular through the “Amalthea” Initiative,” the Spokesman stresses, referring to the humanitarian aid sea corridor to Gaza, an initiative by the Republic of Cyprus.

He adds that President Christodoulides’ presence at the Summit underlines the responsible and coherent foreign policy of the Republic of Cyprus, which has strengthened the country’s diplomatic footprint internationally, through the building of relationships of trust.

The Spokesman also refers to the EU, noting the importance of its role both as regards the implementation of the agreement as well as the next phase of the humanitarian and development support for Gaza.

Cyprus, he points out, due to its geographical proximity and operational capabilities, can act as a natural bridge for European action in the region, especially in view of the Cypriot Presidency of the Council of the EU in 2026.

The ceremony will be attended, among others, by the President of the United States, the President of Egypt, the leaders of Qatar, Jordan, the United Arab Emirates, Saudi Arabia, the United Kingdom, France, Greece, Germany, Italy, India, Pakistan, Indonesia, as well as the President of the European Council, the UN Secretary-General and the General Secretary of the Arab League.

The President of the Republic will be accompanied by Minister of Foreign Affairs Constantinos Kombos, the Government Spokesman, Deputy Minister for European Affairs Marilena Raouna, Director of the President’s Diplomatic Office Doros Venezis and other officials.

The European Commission announced on Monday the launch of AI Factories Antennas in seven member states, including Cyprus. The member states mentioned in the Commission’s announcement are Belgium, Cyprus, Hungary, Ireland, Latvia, Malta, and Slovakia. Additionally, partner countries such as Iceland, Moldova, Switzerland, the United Kingdom, North Macedonia, and Serbia will host these centres.

According to the Commission’s announcement, these new centres will work closely with existing AI Factories, providing national AI communities with secure remote access to state-of-the-art, AI-optimized supercomputers. Fully integrated into the EuroHPC Joint Undertaking ecosystem, the centres aim to expand access to AI talent, infrastructure, and innovation across Europe.

Last Friday, the Commission also announced a major expansion of Europe’s AI infrastructure, adding six new AI Factories to the existing network, bringing the total to 19 centers across 16 Member States.

During her visit to the Western Balkans, European Commission President Ursula von der Leyen announced today the new centers in Serbia and North Macedonia, giving companies in the region access to Europe’s AI infrastructure.

The announcement is part of the Commission’s AI Continent Action Plan and complements the EU’s investments in future AI Gigafactories-large-scale facilities dedicated to developing and training advanced AI models and systems. It also aligns with the Apply AI Strategy, which aims to accelerate the adoption of artificial intelligence across Europe’s economy and public sector.

Bank of Cyprus announced the launch of the ‘IBU India Hub’, a new strategic initiative aiming to enhance its service offering and specialization to businesses and individuals connected to India.

“This is an important step towards strengthening our international presence and leveraging new opportunities. IBU India Hub is a dedicated service unit designed to meet the needs of Indian businesses and professionals establishing their presence in Cyprus”, a press release reads.

The India Hub will focus on two main pillars: specialisation on service offering to customers related to India and promoting Cyprus as an attractive destination for Indian entrepreneurs and High Net-Worth Individuals (HNWIs)

A total of 224 turtle nests were recorded on beaches within the Sovereign Base Areas this year to reinforce the success of long-term conservation efforts, a press release by the SBAs says.

This milestone, it adds, was achieved between May and October and reflects over two decades of committed, science-led protection of endangered Green (Chelonia mydas) and Loggerhead (Caretta caretta) turtles.

“The SBAs apply a ‘minimum-intervention’ conservation protocol which focuses on preserving natural habitats, limiting human interference and enforcing protective legislation under the EU-aligned Protection and Management of Nature and Wildlife Ordinance. Offenders face fines of up to pound 17,000 and imprisonment of up to three years for disturbing nests or turtles” it notes.

Daily patrols, it continues, the use of aluminium nest cages to deter predators and strict regulations on beach activities form the backbone of the conservation programme and are largely credited for the increase in nests.

Senior Policy and Enforcement Officer at the SBAs Environment Department, Alexia Perdiou, said that ‘what we are seeing today is the result of consistent, science-based protection measures that began more than two decades ago.’

British and Cypriot volunteers living within the SBAs and Republic of Cyprus have been another factor in the success, alongside the close working relationship with Terra Cypria, an NGO that coordinates volunteer efforts along Lady’s Mile beach, the press release says.

As nesting season draws to a close, the SBAs reaffirm their commitment to safeguarding one of the Mediterranean’s most important turtle nesting habitats, ensuring that future generations of turtles continue to return to these protected shores, the press release concludes.

Commission finds State aid rules on guarantees still relevant but can be updated

The European Commission has found that the State aid rules on guarantees are still relevant as they increase predictability and legal certainty, but that some improvements and simplification are necessary. In a Staff Working Document (‘SWD’) published today, the Commission finds that there can be improvements regarding estimating aid amounts, complexity for SMEs, and passing-on of risk benefits.

The SWD summarises the findings of its evaluation of the Commission Notice on the application of Articles 87 and 88 of the EC Treaty to State aid in the form of guarantees (‘Guarantee Notice’), which describes how the Commission assesses State guarantees on loans and other financial instruments. Launched in August 2022, the aim of the evaluation was to assess whether the Guarantee Notice, which has not been revised since 2008, remains ‘fit for purpose’ and to identify any existing shortcomings as well as any scope for improvement and simplification.

As part of the evaluation, the Commission gathered evidence to understand how the Guarantee Notice has functioned since its adoption. This evidence includes feedback obtained from a public consultation and a targeted consultation, a workshop with bodies that administer and grant guarantees, as well as information provided by Member States. The Commission has also commissioned an external study conducted by a consortium of independent experts. The final report of the external study has also been published today.

Main findings of the evaluation

The evidence gathered in the evaluation has shown the following:

The Guarantee Notice has a clear added value, as it provides a framework within which the Commission can approve guarantee methodologies developed by Member States. The Guarantee Notice has therefore increased predictability and legal certainty and ensured a level playing field between Member States.

The Guarantee Notice remains relevant as it describes the conditions for ensuring that a State guarantee is awarded on market terms and hence is free of aid. The continued relevance of the Guarantee Notice is also clear from the increasing number of Member States’ (pre-)notifications of guarantee methodologies.

The evaluation also shows that the Guarantee Notice could be improved in the following specific areas:

Due to developments in the financial markets, the evolution of interest rates, and the changes in capital requirements applicable to lenders since 2008, the implementation of the Guarantee Notice may result in an underestimation of the aid amount (i.e. the premium charged for a State guarantee may be too low). However, for the simplified approach that can be applied for State guarantees to smaller companies (the so-called ‘safe harbour option’), there may be an overestimation of the aid amount (i.e. the premium charged may be too high), especially for State guarantees targeting riskier SMEs.

It may be the case that lenders do not fully pass through to borrowers the risk-reduction benefits they obtain through the State’s guarantees, although this effect is insufficient for lenders to achieve any statistically significant aggregate gains.

Compliance with the provisions of the Guarantee Notice can be complex and costly, especially for smaller measures and smaller Member States. In addition, there is insufficient availability of reliable data on approved guarantee measures, which demonstrates that the reporting framework of the Guarantee Notice is not functioning as intended. This could be due to the costs involved.

The Guarantee Notice contains elements that are incoherent with the broader State aid framework. Most notably, there are some inconsistencies over the use of market benchmarks and the mechanisms for ruling out aid to lenders, which are both established under the Commission Notice on the notion of State aid as referred to in Article 107(1) TFEU (‘Notice on the Notion of Aid’).

Next steps

The Commission intends to launch a review of the Guarantee Notice in the first quarter of 2026 with the aim to address the issues identified in the evaluation. Stakeholders will have the possibility to comment on the call for evidence which will be published for feedback. The revision is currently estimated to be finalised by June 2027.

Background

To ensure that a State guarantee involves no aid, the guarantee premium paid to the State should be in line with what a market operator would expect to receive as remuneration for that guarantee under normal market conditions. The Commission’s market conformity assessments therefore focus on whether the transaction’s compliance with market conditions can be directly established through transaction-specific market data or, in cases where such data is unavailable, whether other methods could be used.

The most direct way to rule out aid is for the State to set the guarantee premiums equivalent to those charged by private operators. If there is no equivalent transaction, market conformity may instead be established using market benchmarks from comparable market transactions on that company or on a sample of comparable companies. In practical terms, most of the Commission’s assessments of guarantee measures focus on a situation where the State acts alone, and where no reliable or consistent market benchmarks exist. In those cases, the Member States may develop their own methodologies to calculate market proxies for the guarantee premium. The Guarantee Notice sets out conditions for ruling out aid. The Guarantee Notice also helps Member States set up measures involving an aid element, by providing conditions on how to accurately calculate the aid amount in the State guarantee. Under the Guarantee Notice, Member States can, subject to the Commission’s approval, set up methodologies that achieve market conformity by taking into account the specific risk and cost elements that are typically considered by market operators. Simplified options, including a safe-harbour option, are also provided to for small and medium-sized enterprises (SMEs).

For More Information

More information on the Guarantee Notice and its evaluation is available on the Commission’s competition website and on the dedicated Guarantee Notice evaluation webpage.

Quote(s)

Our evaluation shows that the Guarantee Notice remains a useful tool to help Member States provide guarantees in line with EU competition rules. At the same time, financial markets have evolved and we identified several areas where it should be updated to reflect market developments and simplified to reduce complexity. We will now work to address these issues to ensure the rules remain clear, consistent, and fit for today’s economy.

Teresa Ribera, Executive Vice-President for Clean, Just and Competitive Transition

Joint press release: 23rd EU Week of Regions and Cities showcases cohesion policy’s impact

Today, the Executive Vice-President for Cohesion and Reforms, Raffaele Fitto, and the President of the Committee of the Regions, Kata Ttto, launched the 23rd European Week of Regions and Cities.

Under the motto ‘Shaping tomorrow, together,’ this three-day event brings together 6,500 participants from all over the EU, including policymakers, practitioners, project promoters, civil society, and researchers. ‘Cohesion and Growth for the Future,’ ‘Right to Stay: Unlocking the Potential of Every Territory,’ and ‘Cities Building Tomorrow’ are the three focal topics of the week’s over 200 sessions.

Executive Vice-President for Cohesion and Reform Raffaele Fitto said: ‘The European Week of Regions and Cities offers a great opportunity for dialogue on the most important issues for our citizens. Representatives from all over the European Union give us the possibility to work on tailor-made solutions and ensure a place-based approach. Cooperation and partnership are key for the success of cohesion policy. We are committed to improve the lives of our citizens, reducing disparities and promoting territorial development in all regions.’

President of the Committee of the Regions, Kata Ttto said: ‘The European Week of Regions and Cities provides a unique platform for all those who work every day to make Europe stronger on the inside, thanks to EU’s cohesion policy. Facing multiple crises, regions and cities invest cohesion funds to stabilise and innovate regional economies, counter industrial decline, fight poverty and increase our communities’ preparedness and resilience. The European Commission is our crucial partner in this endeavor and we must preserve this strategic, daily cooperation in the future, as regional and local leadership can make a difference for the EU to achieve its objectives, including on new priorities as internal safety and international competitiveness.’

Cohesion policy: A proven catalyst for progress

Discussions will be framed by three evaluation reports published today by the Commission on the 2014-2020 cohesion programming, the 2021-2027 mid-term review and the Covid crisis repair and recovery fund REACT-EU. These evaluations offer concrete evidence of the policy’s achievements and impacts despite the numerous challenges of the past years:

In 2014-2020, cohesion policy supported over 2.5 million SMEs, the creation of 370,000 jobs and childcare facilities for 24 million children.

Over pound 66 billion were invested in climate-related projects, while the EU’s capacity for renewable energy production increased by more than 6,000 Megawatts, and 8 million households got access to broadband.

Cohesion policy contributed to boosting the EUs GDP by 0.6%, as well as job growth and mitigation of regional disparities.

The evaluations show that to maximize effectiveness, the policy must be supported by robust governance, strong administrative capability, and a conducive economic and business environment.

Advancing towards a modern and adaptive cohesion policy

Cohesion policy’s recently approved mid-term review increased flexibility and simplicity by allowing Member States and regions to reallocate funds towards strategic priorities such as competitiveness, defence, affordable housing, water resilience, and energy transition. It also aligned with the objectives of the ‘Strategic Technologies for Europe Platform’, which has already supported investments over pound 12.2 billion in critical technologies, including clean tech, deep tech, and biotech.

Unlocking every territory’s unique potential

Addressing regional and social disparities remains central to the EU’s agenda to ensure that, irrespective of location, citizens have the right to remain and grow within their communities. Through 2021-2027, cohesion policy has and will continue to provide substantial support to that end, including pound 7.2 billion for healthcare and long-term care, pound 5.6 billion for education and training, pound 7.5 billion for housing, and pound 40.5 billion for enhanced connectivity and access to efficient transport systems.

A new EU Agenda for Cities

The Commission has also released the ‘EU Social Progress in Cities and Urban Areas’ study, highlighting both opportunities and challenges in areas such as affordable housing and sustainable mobility. To address these challenges, a new EU Agenda for Cities is set for adoption later this year.

Background

The European Week of Regions and Cities, co-organised by the European Commission and the European Committee of the Regions, is the biggest Brussels-based event dedicated to cohesion Policy.

The programme highlights include the REGIOSTARS Awards celebrating the excellence in EU-funded projects in EU regions and the Megalizzi-Niedzelski prize for aspiring journalists showing a strong attachment to EU values.

More information

European Week of Regions and Cities website

Quote(s)

The European Week of Regions and Cities offers a great opportunity for dialogue on the most important issues for our citizens. Representatives from all over the European Union give us the possibility to work on tailor-made solutions and ensure a place-based approach. Cooperation and partnership are key for the success of Cohesion policy. We are committed to improve the lives of our citizens, reducing disparities and promoting territorial development in all regions.

Raffaele Fitto, Executive Vice-President for Cohesion and Reforms

The European Week of Regions and Cities provides a unique platform for all those who work every day to make Europe stronger on the inside, thanks to EU’s cohesion policy. Facing multiple crises, regions and cities invest cohesion funds to stabilise and innovate regional economies, counter industrial decline, fight poverty and increase our communities’ preparedness and resilience. The European Commission is our crucial partner in this endeavor and we must preserve this strategic, daily cooperation in the future, as regional and local leadership can make a difference for the EU to achieve its objectives, including on new priorities as internal safety and international competitiveness.

Kata Ttto, President of the Committee of the Regions

Statement by President von der Leyen on the release of hostages and on the agreement ending the war in Gaza

The return of the Israeli hostages is a moment of pure joy for those families.

And a moment of relief for the entire world.

It means that a page can be turned. A new chapter can begin.

Europe fully supports the peace plan brokered by the United States, Qatar, Egypt, and Trkiye.

The finalisation of the agreement ending the war today in Sharm el-Sheikh will be a historical milestone.

We stand ready to contribute to its success with all tools at our disposal.

In particular, by providing support on governance and for the reform of the Palestinian Authority.

We will be an active force within the Palestinian Donors Group. And we will provide EU funding for the reconstruction of Gaza.

Statement by President von der Leyen at the joint press conference with Albanian Prime Minister Rama

Dear Edi,

What a pleasure to be back in Albania and begin my traditional annual tour of the Western Balkans in Tirana.

My first message is very clear: Albania is on the right track towards the European Union. You have come a long way, you have made progress. And I want to emphasise that there has been a stunning and outstanding record speed acceleration in the last three to four years. Five of six negotiating clusters are already open. We plan to open the last one this autumn. I know the personal effort you, Prime Minister, and your team, have invested in this journey. Your goal is to close negotiations by 2027. This is ambitious but we like ambition. And let me assure you: we will be with you every step of the way.

Because the geopolitical momentum is now. Russia’s aggression against Ukraine has reshaped our continent. Every European nation must choose its place. Albania has made its choice, very clearly. You are fully aligned with the European Union’s foreign and security policy. Together we are acting as one.

My third message is that getting closer is not only about geopolitics. It is also smart business. We will discuss this at the investment conference later today. Two years ago, we launched the Growth Plan for the Western Balkans. The principle is very straightforward. Your economy gains access to our Single Market and new EU investments. In exchange, you deliver on key reforms. This is how you get a level playing field with the EU. The door of areas of our Single Market is open to your companies and our companies gain a bigger common market. Everybody wins.

The Growth Plan has the potential to double the economy of the Western Balkans in this decade. And it is already delivering. Let me give you three precise examples. First, you have made strong progress in key reforms. Thanks to this, I am glad to announce the disbursement of nearly EUR 100 million. Now it is about implementation and you I know you are well on track. This is how you can get all the money from your Growth Plan. We are talking about almost one billion. Second, the Single Euro Payments Area, SEPA. Two years ago, we first spoke about Albania joining the SEPA. At that time, this looked as an extremely ambitious and challenging project. But you have made it happen in record time. Since last week, transfers of money between Albania and the EU are safer and especially much, much cheaper. A big advantage for the citizens and the companies. My third example is roaming. In 2023 here in Tirana, we achieved a landmark agreement with operators. You remember that. Next year, we will abolish roaming charges between Albania and the EU. This is good for business, good for tourism, and especially good for bringing our people together.

Dear Edi,

My final message is this. Perhaps the strongest case for enlargement is not economic or geopolitical. It is the will of the people. Albanians want Europe. A recent poll shows that if a referendum were held today, 92% of Albanians would vote for EU membership. And across our continent, young Europeans are with us and with you. Two-thirds of those aged 15 to 40 support enlargement. This is the clearest signal of all. Our young generations want to live in a stronger, safer, united European Union.

So dear Edi, I wish you every success as you continue on your EU path. You can count on me to support you every step of the way.

Cyprus President Nikos Christodoulides presented on Monday Nicosia’s initiative relating to security, the reconstruction of Gaza and the humanitarian sector during his contacts at the Gaza Summit held in Sharm el-Sheikh.

In his statements after the Peace Summit in Sharm el-Sheikh, President Christodoulides said that the proposal was currently in progress and is to be formulated, ‘with the sole aim of doing everything we can, as far as the Republic of Cyprus is concerned, to ensure the implementation of the first phase of the agreement’.

According to an announcement by the Presidency, President Christodoulides said in his statements, that, taking into account ‘the excellent relations’ of the Republic of Cyprus with all neighbouring states, and the fact that the country is the EU member state in the region, as well as Cyprus’ upcoming EU Presidency, ‘just as we did in October 2023 in Paris, when we first presented our initiative on a humanitarian corridor, today, during our contacts, we informed and presented three areas in which the Republic of Cyprus can develop specific initiatives, six in number, on the basis of the US President’s plan.’

President Christodoulides said he briefed the President of the European Commission on Sunday on Cyprus’ initiative, noting that ‘the Commission’s contribution is of crucial importance’ as well as state leaders with whom he has communicated within the last 24 hours.

He reiterated that it is an initiative that concerns six specific proposals in three areas: security, reconstruction and the humanitarian sector, ‘always in relation to the plan of the US President’.

The prospects for the implementation of the ceasefire agreement in Gaza, as well as the role that Cyprus and Jordan can play in regional stability and reconstruction, were discussed by President, Nikos Christodoulides, and King of Jordan Abdullah, on the sidelines of the Gaza Summit taking place in Sharm el-Sheikh.

According to a post on X by Government Spokesperson, Konstantinos Letymbiotis, President Christodoulides held a bilateral meeting with the King of Jordan, Abdullah, on the sidelines of the Gaza Summit taking place in Sharm el-Sheikh.

‘During the meeting, they exchanged views on the latest developments in the region, the prospects for the implementation of the ceasefire agreement and the next day in Gaza, as well as on the role that Cyprus and Jordan can play in regional stability and reconstruction,’ he adds.

In earlier post, Letymbiotis refers to Cyprus’ participation in the international summit on Gaza, noting that the country, as an actor of regional stability, ‘continues to confirm its role as a reliable partner’, in the region.

Referring to Cyprus’ “continuous diplomatic presence, national consistency and political credibility”, conditions, he noted, that were “cultivated and established” by President Christodoulides’ Government, Letymbiotis said the country participates in the summit “at an historic juncture for the Middle East, a defining moment for the creation of conditions of security and stability in a region that has been tested by tensions and uncertainty.’