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12° Nicosia,
30 March, 2020
 

EIB President in Cyprus to discuss bank’s investment in the country

Last year, the EIB Group provided €230 million for new investment in Cyprus, representing 1.04 per cent of Cyprus GDP

Newsroom / CNA

The European Investment Bank (EIB) President, Werner Hoyer, was in Cyprus on Monday to update President Nicos Anastasiades on recent and future investment on the island, and to review improvements the education sector which has enjoyed significant ECB investment.

“This visit provides a timely opportunity to update President Anastasiades on how the European Investment Bank is helping Cypriot businesses to grow and improve key services following a successful year of broad engagement in 2019 and to discuss future EU Bank support for priority investment,” Hoyer said.

The EIB President will also pay a visit at the English School to see first-hand “how EIB-backed investment is improving education for Greek and Turkish Cypriot students as part of our support for new investment at 213 schools across the country.”

Last year, the EIB Group provided €230 million for new investment in Cyprus, representing 1.04 per cent of Cyprus GDP. Once again, Cyprus was a leading beneficiary of EIB investment on a per capita basis.

According to EIB, this included new credit lines with Cypriot banks to support business investment and backing for new renewable energy and energy efficiency projects.

The EIB also agreed the latest support for urban development, waste, transport, telecom and health investment alongside European Union grants.

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