News Local Cyprus ranks first in European Social Fund absorption for 2018

Cyprus ranks first in European Social Fund absorption for 2018

Cyprus ranks first among EU member states in the cumulative payments made from the European Social Fund in 2018, a Labour, Welfare and Social Insurance Ministry press release said.

The Labour Ministry noted that “according to official European Commission statistical data, Cyprus ranks in the first position among 28 European Union member states on the absorption of funds in 2018 from the European Social Fund.”

According to the data, Cyprus ranks first among other member states on the cumulative payments made by the European Social Fund, having absorbed 49% or €56,255,218 from a total of €114,307,303. Luxemburg ranks second with 46% and Greece third with 41%.

Through four national programmes, Cyprus benefits from European Structural and Investment Funds with €917 million over the period 2014 – 2020. This represents an average of €1,069 per person.

Funding derived from the European Social Fund corresponds to 11.5% of the total Cyprus is set to receive from European funds.

(Cyprus News Agency)

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