Nicosia: Two significant loan agreements will be signed on Thursday between the Ministry of Finance and the European Investment Bank (EIB). The first agreement involves the second tranche of the ‘THALIA 2021-2027’ cohesion policy program, amounting to 50 million pounds, while the second agreement pertains to an increase in the loan for the Cyprus Institute of Neurology and Genetics (CING) from 26 million pounds to 31 million pounds.
According to Cyprus News Agency, the Ministry of Finance has disclosed that the loan agreement for ‘THALIA 2021-2027’ involves a 50 million pound tranche from a total loan of 369 million pounds. This funding will support projects and programs included in the ‘THALIA 2021-2027’ program, which are co-financed by the European Union’s Cohesion Policy Funds. These initiatives focus on promoting green growth, innovation, digital transition, social cohesion, and job creation.
Regarding the second agreement, the Ministry highlighted that it is an amendment to the existing loan agreement with CING, which aims to boost the total financing from 26 million pounds to 31 million pounds. This additional 5 million pounds, backed by a state guarantee, will enhance research capacity and the Research and Innovation sector in Cyprus. The funds will facilitate the construction of a new building for Research and Development projects and the renovation of existing CING facilities.
The signing ceremony for these agreements will occur at the Ministry of Finance on Thursday, 25 September 2025, at 10:00 a.m. local time. The loan agreement for the ‘THALIA 2021-2027’ program will be signed by the Minister of Finance, Makis Keravnos, and the Vice-President of the EIB, Kyriakos Kakouris.
The CING loan agreement will be signed by the Minister of Finance, the Vice-President of the EIB, and CING’s Chief Executive Officer and Medical Director, Leonidas Phylactou. Additionally, the state guarantee agreement between the Republic of Cyprus and the EIB will be signed by the Minister of Finance and the Vice-President of the EIB.