Nicosia: Cyprus is not merely a recipient of aid but a strategic partner that can shape Europe’s future, Kyriakos Kakouris, Vice-President of the European Investment Bank (EIB), told the Cyprus News Agency (CNA). In an era when Europe is tested by climate, energy, and geopolitical crises, Kakouris, spoke to CNA at the end of his term as Vice-President about the mark he leaves behind, one that transcends the boundaries of European bureaucracy.
According to Cyprus News Agency, Kakouris views Cyprus as a laboratory of innovation, a battleground against water scarcity, and a bridge between Europe and the Eastern Mediterranean. With over 20 years of experience with the EIB Group, he describes his tenure as “extremely constructive.” As the first Cypriot Vice-President of the EIB, Kakouris leaves behind a legacy rooted in cooperation, innovation, and resilience for both Cyprus and Europe.
Kakouris highlighted the establishment of the EIB office during his tenure in Nicosia as a significant milestone. He emphasized that the presence of the EIB in Cyprus is impactful on the local economy and strengthens ties with European institutions. This has facilitated investments in energy infrastructure and water networks and supported small and medium-sized enterprises through Cypriot banks.
Discussing water as a top priority, Kakouris expressed pride in elevating the water sector’s importance. He stressed the need for a comprehensive strategy that includes the expansion of desalination plants, smart infrastructure, and recycling of treated water to ensure water resilience. The EIB has announced a new Water Resilience Program, with significant funding to address these challenges.
Kakouris also emphasized the importance of cooperation with the Eastern Mediterranean and Southern Europe, promoting strategic investments in green energy and digital transformation. He noted the EIB’s alignment with European policies, such as the Green Deal, to maximize its impact across Europe.
Reflecting on his tenure, Kakouris highlighted the EIB’s strengthened support for sustainable investments and innovation, maintaining close contact with businesses, governments, and citizens. He advised his successor to focus on cooperation and innovation while leveraging the expertise of the EIB Group’s staff.
Looking to the future, Kakouris expressed optimism about Europe’s potential for innovation and sustainable development, emphasizing the importance of viewing challenges as opportunities. His experience at the EIB will continue to guide his efforts in supporting projects that bring real development to his country.