Nicosia Development Agency was established on 16th December 2011 by the Municipalities of Greater Nicosia aiming at claiming available funds from European or other sources for the benefit of its members. It is an organization with a non-profit character (in case of profitability, profits are redistributed for the original purposes of the agency’s establishment), working towards the benefit of the wider interest and meets all the conditions of Directive 2004/18/EC, Article 1.9 concerning the designation of public equivalent bodies. The Agency is governed by the Board of Directors the members of which are being elected by the General Assembly where all shareholders take part. The Board of Directors is responsible for the decision making regarding the policies of the organization the strategic planning and the direction of the activities. The executive and technical application of the Board’s directives is implemented by the Agency’s staff.

Objectives of the Agency

The Agency is established aiming at the following:

  • Prompt and updated provision of information about the European Union developments.

  • Technocratic and advisory support to local authorities for their developmental role and planning

  • Developmental Planning of the broader regional area of Nicosia

  • Maximum exploitation of the available national and EU funds through participation and management of projects related to the needs of its members

  • Technical assistance to the residents and organizations of the region in the field of education and training, improving quality of life and general socioeconomic development

  • Undertaking initiatives on environmental protection, conservation of cultural heritage and development of the social cohesion

  • Promote the widest possible cooperation of Local Authorities with public bodies, semi-public and private sector, seeking synergy and

  • Development of an international and interregional network of cooperation with organizations from other Member States

  • Exchange of experience and best practices with local authorities of other Member States aiming at implementation of innovative actions or policies on regional and local level.

Every activity of the Agency aims at the implementation of developmental policies, practices and actions, through its member municipalities, for the achievement of the best quality of the citizen’s lives in all sectors in its area of intervention. 

A commitment of the Agency’s management is the provision of the necessary resources to deliver quality services that contribute to the exploitation of the economic and social potential of the area under any circumstances. The Agency promotes, by all means, sharing of know-how and expertise with internal and external partner organizations, expands the area of concern of the local community and provides additional growth opportunities. It establishes stable and sincere cooperation relationships with associates and other organizations, based on the fact that the pursuit of quality is an objective of everyone involved.

Meet the directors
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Eleftherios Loizou, Managing Director | Phone: 00 357 22489105  

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Panayiotis Mountoukos, Financial Director | Phone: 00 357 22489105  

Eleftherios has studied Sociology. He also holds a Master in International Relations. He is currently a Phd Candidate in the subject field: "Public Administration - Local Development and Social Cohesion".

He has an extensive experience in a) implementing and coordinating EU projects (39 approved projects), b) strategic planning, c) networking, d) human resources, f) training and education g) providing support to local authorities and h) providing support to vulnerable social groups.

Panayiotis has studied Accounting and holds a Master Degree in Accounting. 

Over the past ten years, his main area of expertise is in the fields of financial management and implementation of EU projects (44 approved projects) and implementation and evaluation of development programs. He is also experienced in socioeconomic studies for Local Authorities. 


Organizational Chart

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