Cyprus will roll out a €67.5 million investment scheme this Thursday as part of its strategic plan under the EU’s common agricultural policy (CAP), government spokesman Konstantinos Letymbiotis confirmed on Tuesday.

Speaking at the presidential palace, Letymbiotis said the programme forms a key pillar of the 2023–2027 CAP strategy, aiming to modernise the island’s farming sector and address long-standing challenges faced by local producers.

“The government will proceed on June 5 with the launch of the major investment measure of the strategic plan for the common agricultural policy,” Letymbiotis said.

“The total value of this measure is €67.5 million.”

He explained the plan was developed following consultation with farming organisations and producers. The goal, he said, is to meet the real needs of the primary sector and help it adapt to environmental and economic pressures.

The new scheme includes several innovations, improvements and simplifications. Only farmers and agricultural enterprises registered in the national farmers and agricultural holdings registry will be eligible.

Licensing procedures have also been streamlined, with the support of the interior ministry and other relevant bodies, to speed up applications and reduce red tape.

For the first time, funds will be allocated based on clear priorities, using a scoring system that ensures the best applications in each production sector are approved. The scheme also supports investments in renewable energy and energy-saving actions, with special financial backing from the electricity authority of Cyprus to help cut production costs.

In line with a cabinet decision, new rules will apply to the efficient use of water resources. A significant portion of the funding, €29.5 million, will go towards supporting sheep and goat farming.

The aim is to strengthen production of the island’s traditional PDO halloumi and boost output of goat and sheep milk.

The plan, the spokesman added, signals a determined effort to help agriculture become more competitive, resilient and environmentally sustainable.