Nicosia, Cyprus. Cyprus’s Finance Ministry reviewed progress on Swiss-funded projects worth more than €26 million during the fourth annual meeting under the Second Swiss Contribution 2019-2029. The projects cover initiatives in social cohesion and migration.
Annual meeting held in Nicosia
According to an announcement by the Directorate-General for Growth of the Finance Ministry, the meeting took place on July 9, 2026, at the directorate’s offices in Nicosia.
The meeting was chaired by Director-General of the Directorate-General for Growth Penelope Papavasileiou and attended by representatives of the Swiss Confederation and the Republic of Cyprus.
Review of bilateral projects
Participants reviewed the progress of projects being implemented under the bilateral agreements signed between the two countries in the fields of cohesion and migration.
The ministry said the Swiss Confederation signed a memorandum of understanding with the European Union on June 30, 2022, for the Second Swiss Contribution, under which Switzerland committed approximately CHF 1.3 billion to help reduce economic and social disparities within the EU and support measures related to migration.
Funding allocated to Cyprus
Of the total Swiss commitment, Cyprus has been allocated CHF 5.2 million (€5.4 million) to finance projects aimed at reducing economic and social inequalities during the 2019-2029 implementation period.
In addition, CHF 20 million (€20.8 million) has been earmarked to support migration measures, with Phase I covering the 2019-2026 period and Phase II running from 2025 to 2029.
Timeline of agreements
To activate the Swiss contribution, framework agreements between the Republic of Cyprus and the Swiss Confederation were signed on October 31, 2022.
The agreement covering Migration Phase I was signed on November 21, 2022, while the agreement for Migration Phase II was signed on November 21, 2025.
The agreement concerning measures to reduce economic and social inequalities was signed on December 12, 2022.
