Nicosia Municipality to Continue to Fund Businesses Near Green Line

Муниципалитет Никосии продолжит финансировать бизнес, прилегающий к «зелёной линии»
22 July 2021 Liza Medvetskaya

As Nicosia recovers from the coronavirus pandemic, the city's municipality is doing everything it can to develop areas next to the green line. In particular, the authorities are actively stimulating local businesses.

The mayor of the city, Constantinos Yiorkadjis, announced that the Nicosia municipality will continue to implement a program to support local entrepreneurs. For this, an additional 700 thousand euros were allocated from the city budget.

Much still depends on how the coronavirus pandemic develops and how companies behave during this challenging time. However, we will continue to work to modernize the city, as well as provide assistance to local businesses. Even during the first lockdown, the municipality decided to support local businessmen - it canceled taxes and fees, reduced rent for premises owned or managed by the council, Yiorkadjis said.

By the way, due to the unpredictable nature of the coronavirus pandemic, the municipality is aware that the next few months will be very uncertain. However, they intend to use this time to plan and promote projects, which they develop in two main directions: to enhance business activity and innovation in the buffer zone area and to modernize transport to facilitate traffic and speed up logistics in the city.

In these difficult times, together with the Ministry of Internal Affairs, we implemented a plan to support business activity in areas next to the "green line", the mayor continued.

According to the representative of the municipality, 18 entrepreneurs have already received financing of up to 40 thousand euros to run their business in the historic center of Nicosia or to expand existing premises, including for the creation of exhibition halls, shops, objects for 3D printing, workshops, galleries, supermarkets, architectural firms, restaurants, cafes, bars and more.

He highlighted the importance of the CYENS Center (formerly known as RISE) and how its presence in the renovated STOA building will help drive innovation.

We strive to forge closer relationships between scientists, business people and local authorities to create a culture of innovation and creativity, as well as support the business community through knowledge transfer and technological solutions, ”Yiorkadjis said.

In terms of transport, the mayor explained that the reconstruction of Stasikratus, Makariou and Evagorou districts will further develop the city center as the first phase of the project has been completed and is already yielding results in the form of increased retail and leisure activities.

The second phase of the plan (affecting Makariu and its alleys) is estimated to be completed in early December, with large organizations expressing interest in opening stores in the area, some of which are already in operation, including the recently opened Kotsovolos store. Renovation of central avenues is critical to business development in the area, which will be supported by upgrading streets, creating new pedestrian-friendly and disabled-friendly sidewalks and creating parking spaces to prevent illegal parking, the mayor said.

The scheme covers the following streets in Nicosia:

Nicocleοus, Faneromenis, Mοuson, Evripidou, Andrea Louka, Marias Sygklitikis, Lefkonos, Asklipiou, Tryphonos, Ypsilanti, Christofidi, Aischilou, Aristophanous, Trikoupi, Dionisiou, Alkiviadi, Isaak Kaminou, Tempon, Manis, Tritonos, Tethlasmenis, Pentadaktylou, Ermou, Ektoros, Ammochostou.

The main goals that the government pursues in implementing this plan:

  • Attract new and pre-defined businesses to areas on the Green Line recovery plan.
  • Encourage existing businesses to move to areas covered by the Green Line rehabilitation plan, thereby implementing the socio-economic modernization of the areas adjacent to the Green Line.
  • Encourage businesses operating in areas covered by the Green Line Recovery Plan to expand their operations and become more competitive.

The beneficiaries of the plan are all enterprises regardless of their size, individuals (citizens of Cyprus and the EU), as well as legal entities (companies, associations, institutions, whose share capital or voting rights in shares belong to citizens of Cyprus or the EU).

Муниципалитет Никосии продолжит финансировать бизнес, прилегающий к «зелёной линии»

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