Insider Economy Cyprus President, EIB chief discuss support for planned projects

Cyprus President, EIB chief discuss support for planned projects

Cyprus President Nicos Anastasiades and visiting European Investment Bank President Werner Hoyer on Monday exchanged views on a number of projects the government intends to launch seeking the lender’s support.

“2019 has been a particularly good year for our activities here,” the EIB President said after the meeting at the Presidential Palace.

“Last year, the EIB group provided 230 mln euros for investment in Cyprus, or 1.04% of the country’s GDP. Nowhere in the EU is this ratio higher than here in Cyprus,” he added.

Hoyer also said they discussed with President Anastasiades ways the EIB could further help Cypriot businesses to grow and improve key services.

And that the EIB adopted last year a new energy lending policy, with renewables and the energy efficiency sector playing a more important role for the bank’s lending practice in Cyprus.

Moreover, he said that the EIB is currently considering new support for power generation to significantly reduce dependency on oil, as well as for small businesses, climate action, high speed internet access and online financial services investment in Cyprus.

Specific projects for which Nicosia intends to secure EIB funding include the LNG terminal at Vassiliko, research and innovation projects, investment to cope with climate change and social housing projects.

The President of the EIB also said that he would visit the English School, in Nicosia, providing education to Greek Cypriot and Turkish Cypriot students, as part of the bank’s support for new investment at 213 schools across the country.

Read more:
https://in-cyprus.com/boc-eib-support-smes-and-youth-employment-in-cyprus/

 

Top Stories

162 new cases, five deaths announced on Monday

The Health Ministry announced the death of five persons due to COVID-19. This raises the death toll from the virus in Cyprus to 175,...

Where to get antigen rapid tests on Tuesday

The Health Ministry announced the following antigen rapid test sites for Tuesday, 19 January 2021: LIMASSOL Apostle Loucas Church, Agios Athanasios 08:30-16:30 Agios Stylianos Church, Linopetra 08:30-16:30 Cultural...

Searches for 70 year old woman missing at sea suspended due to bad weather

Searches to find a 70 year old woman missing off the Phiikoudes beach in Larnaca have been suspended due to extremely bad weather conditions...

Tourist arrivals plunge by 84% in 2020 in one of Cyprus’ worst tourist seasons due to Covid

Tourist arrivals in Cyprus reached a mere 631,609 plunging by 84.1% year on year in one of the worst ever season for Cyprus’ tourist...

Germany demands release of Kremlin critic Navalny

Germany on Monday demanded the release of Kremlin critic Alexei Navalny, detained on Sunday on his return to Russia, and said it would discuss...

Taste

Squash soup

Ingredients: 1 kg pumpkin, cut into small cubes, approximately 5 cups 2 medium (400g) sweet potatoes, cut into cubes, approximately 2 ½ cups 1 chopped leek, only...

Mezedes

No visit to Cyprus is complete without enjoying the traditional meal of many small dishes known as ‘meze’. This large feast, which has been a...

Prawns with fried cheese, barley shaped pasta

Put the barley shaped pasta into a small pan with salted water, bring to a boil and when tender, drain. Peal the prawns leaving...

Salmon and shrimp sheftalies

Mix all ingredients for tabbouli in a bowl and keep to one side so flavours can combine. Prepare the sheftalies: wash and soak the casing...