Limassol seeks funding for green transformation

Limassol needs greater investment and stronger partnerships to achieve its ambition of becoming a climate-neutral and sustainable city, mayor Yiannis Armeftis said on Wednesday. Speaking at a workshop on financing urban development, Armeftis stressed that public funding alone would not be sufficient to realise the city’s plans. The “Better Funding Dialogue” workshop, organised by Limassol municipality, ICLEI Europe and the Cyprus Institute, focused on the redevelopment of Aktaiou street and ways to attract private and institutional investment. Limassol is among 100 European cities participating in the EU’s mission to become climate-neutral and smart by 2030. Its climate contract includes an investment plan worth approximately €1.3 billion, Armeftis said. The mayor described the redevelopment of Aktaiou street as an opportunity to reshape the city’s relationship with its seafront, port and residents. The workshop brought together representatives of public authorities, banks, investment institutions, businesses and the construction and transport sectors to explore potential financing solutions. Speakers included experts from ICLEI Europe, the University of Cyprus, Leuven2030 and the European Investment Bank. Discussions also explored how commercially viable projects could be combined with initiatives offering broader social and environmental benefits. The municipality said the workshop formed part of its wider efforts to establish partnerships and secure investment for sustainable urban development, including the Aktaiou street project.