EIB team to visit Cyprus next week
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.