EIB team to visit Cyprus next week

Financial Mirror (Cyprus) - - FRONT PAGE -

A high-level del­e­ga­tion from the Euro­pean In­vest­ment Bank (EIB) is ex­pected in Cyprus on Fri­day, Septem­ber 19, in or­der to sign new fi­nanc­ing in­stru­ments.

The del­e­ga­tion will be headed by EIB Pres­i­dent Werner Hoyer and Vice Pres­i­dent Mi­hai Tanas­escu and will have con­tacts with the Pres­i­dent Ni­cos Anas­tasi­ades, Fi­nance Min­is­ter Har­ris Ge­or­giades and other of­fi­cials.

The agenda of talks spans over the whole range of co­op­er­a­tion be­tween the EIB and the Repub­lic of Cyprus, in­clud­ing the fi­nanc­ing of var­i­ous sec­tors of the econ­omy, support schemes for SMEs and to com­bat un­em­ploy­ment, as well as Cyprus-spe­cific is­sues, such as the fi­nanc­ing of an LNG ter­mi­nal at Vas­si­liko.

Cyprus is the sec­ond coun­try, after Greece, where the Trade Fi­nance Fa­cil­ity is ap­plied, aim­ing at pro­vid­ing guar­an­tees for cross-bor­der trade.

The EIB re­newed last April its co­op­er­a­tion with the Co­op­er­a­tive Cen­tral Bank au­tho­ris­ing a new 50 mln euro credit line for SMEs, after the sign­ing, in the end of 2013, of two support schemes for Cypriot SMEs, worth 150 mln euros.

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