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

The President of the European Investment Bank (EIB), Werner Hoyer, is paying a visit to Cyprus and will meet on Monday with the President of Republic, Nicos Anastasiades.

According to an EIB announcement, Hoyer is expected to discuss recent and future investment in the country and see how the EIB is helping to improve education in the country.

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, said Hoyer.

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 EUR 230 million for new investment in Cyprus, representing 1.04% of Cypriot GDP. Once again Cyprus was 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.

Source: Cyprus News Agency