Sustainable Bond Framework
Recovery and Resilience Plan: A closer look
The ROC has placed sustainability at the heart of its Recovery and Resilience Plan, 2021-26
Key strategic goal: Strengthening the economy's resilience and the country's potential for economically, socially and
environmentally sustainable long-term growth and welfare.
Key initiatives
Cyprus intends for sustainable borrowing under Green/Social/Sustainable Instruments to complement the objectives of the
Recovery and Resilience Plan.
Support schemes to assist
households, enterprises and
public sector with energy
efficiency and renewable
investments
Investments in the energy
upgrade of public buildings
/ other public
infrastructure
Incentives for reduction of
GHG emissions in
agriculture, business
and industry
Introduction of accessible
and smart transport by
replacement of conventional
stock with zero and low
emission vehicles
Initiatives to reduce energy
poverty in households with
disables people
Smart and sustainable water
management, targeting both
water supply and demand
Promoting resilience
and effectiveness in
the public health system
Public education
system
modernisation,
upskilling & retraining
Initiatives to encourage
broader labour market
participation
Reform of the social welfare
system and expansion of
benefits to promote social
welfare and inclusion
•
A significant macroeconomic impact
In assessing Cyprus's Recovery and Resilience Plan, the European
Commission concluded that the plans put forward by Cyprus are "expected
to have a deeply transformative effect on Cyprus' economy and society"¹,
with a particular focus on green transition and social resiliency.
The plan has long term positive implications for economic growth (GDP)
and employment rates.
Each element of the plan not only ties into the use of proceeds in Cyprus'
Sustainable Finance Framework, but also maps to the UN SDGs.
Note: 1. https://ec.europa.eu/commission/presscorner/detail/en/ip 21 4624
in %
20
15
10
5
3
1
0
next 2 years
16.5
7
6
3
Accumulated increase of GDP
next 5 years
next 20 years
Increase of employment
Source: Ministry of Finance, University of Cyprus
7View entire presentation