Athens, May 28, 2025
Growthfund – Ministry of Transport, Communications and Works of the Republic of Cyprus (MTCW): Signing of MoU for the development of port infrastructure
Growthfund – The National Fund of Greece and the Ministry of Transport, Communications and Works of the Republic of Cyprus (MTCW) signed today, Wednesday, May 28, a Memorandum of Understanding (MoU) aimed at fostering the exchange of expertise and data for the development and management of port infrastructure in both countries.
The agreement was signed by the Permanent Secretary of the MTCW, Dr. Marina Ioannou Hassapi, on behalf of the Ministry, the CEO of Growthfund, Ioannis Papachristou, and the Deputy CEO of Growthfund, Panagiotis Stampoulidis, in the presence of the Ambassador of the Republic of Cyprus to Greece, Stavros Augustides.
With its extensive expertise and its role as the Port Planning Authority, Growthfund will support the efforts of the MTCW in the planning and implementation of initiatives for the sustainable development of ports in Cyprus, starting with the port and marina of Larnaca.
Growthfund is responsible for the development of the Greek ports within its portfolio. In this context, it oversees the preparation of development programmes (Master Plans) and coordinates the licensing procedures required for port infrastructure projects. Furthermore, the Fund also supports similar procedures for ports outside its portfolio, contributing to the creation of a cohesive and comprehensive national strategy for the development of the Greek maritime infrastructure.
Under the newly signed agreement, Growthfund and MTCW will work closely in the coming period to upgrade and modernize Cyprus’ port infrastructure. Growthfund will undertake, on a pilot basis and on behalf of MTCW, the study for the development of the port and marina of Larnaca, submitting proposals for the optimal development of this strategically significant asset.
Dr. Marina Ioannou-Hassapi, Permanent Secretary of the MTCW, emphasized the importance of the agreement, stating: “Today’s agreement marks a significant step toward shaping a modern and comprehensive approach to the development of our country’s port infrastructure. Through this collaboration, we are leveraging the expertise of an organization with significant expertise, aiming for the optimal planning and implementation of projects with strong development potential. Larnaca, as a port of strategic importance, will become a model of modern, functional, and sustainable port development, bringing substantial benefits to the local community and the economy.”
Panagiotis Stampoulidis, Deputy CEO of Growthfund, stated:
“The signing of this agreement with the Ministry of Transport, Communications and Works of the Republic of Cyprus marks the beginning of a strategic collaboration focused on the exchange of know-how for the optimal development of port infrastructure in both Greece and Cyprus. With a shared vision and coordinated approach, we are committed to working together to advance the Blue Economy in the Southeastern Mediterranean and to promote regional development, delivering multiple benefits to local communities. As the Port Planning Authority, Growthfund will continue to play a pivotal role in shaping a sustainable development model for the country’s ports. It is also particularly important that 50% of the revenues from port concession contracts is reinvested to upgrade the infrastructure of regional ports—enhancing competitiveness and creating new jobs that benefit the national economy.”
For further information please contact:
GROWTHFUND, Anthi Trokoudi, Chief Communications & Sustainability Officer, +30 6932 100053, A.Trokoudi@growthfund.gr
SOCIALDOO, Konstantina Iliopoulou, Director of Corporate Relations, +30 6974 894411, kiliopoulou@socialdoo.gr