Paphos Municipality is in trouble. Opposition councillors say important information was hidden. This information was about a €2.5 million loss in EU money. The money was for three big building plans. The DIKO group has complained. They say the council knew about money problems for 18 months. They did not tell everyone. This is not good for honesty. It could cost the city more money.
The problem is with money from the Thalia 2021-2027 EU program. This money was for two city projects. These were for Anavargos and the south shopping area. The projects lost EU money. This happened because of problems with accessibility. Now there is a big money gap. The city needs a new plan.
At first, the council thought about using money for a History Centre. This centre was planned for Kennedy Square. However, this idea did not work. The centre already had its own loan. This loan was from the European Investment Bank (EIB). Using EIB money for the other projects was not allowed.
So, the council will use the EIB loan differently. The loan was for the History Centre. Now it will pay for the Anavargos and south shopping area projects. This loan is about €9.3 million. Some money, about €2.5 million, will be for other projects. These include a Natural History Museum. The council agreed to the new plan. They said it was an emergency.
The opposition is unhappy. The council only heard about this on Monday. The money problems have been there for 18 months. The DIKO group says this secrecy hurt the council. It made the city have more debt. The EIB loan was signed on October 10, 2024. This was an important time for the money changes.
This money problem is serious. There is a €2.5 million gap. The city will have more debt. People are asking about how the money is managed. They want to know if the council is open. This shows how hard it is to manage EU projects. Good communication is very important. We need to know what will happen to Paphos's future.