RCB Bank ex­tends EIB co­op­er­a­tion for SMEs

Financial Mirror (Cyprus) - - FRONT PAGE -

RCB Bank an­nounced that it has ex­tended its co­op­er­a­tion with the Euro­pean In­vest­ment Bank (EIB) and the govern­ment to achieve vi­able growth for the Cyprus econ­omy by sup­port­ing small and medium sized en­ter­prises.

Fur­ther to the cur­rent co­op­er­a­tion be­tween RCB and the EIB which re­garded a EUR 20 mln fund­ing fa­cil­ity al­lo­cated for the fi­nanc­ing of new in­vest­ments of Cypriot SMEs at ben­e­fi­cial lend­ing rates, RCB Bank will now be able to ad­di­tion­ally chan­nel EUR 40 mln to the Cypriot econ­omy. This fund­ing trans­lates to com­pet­i­tive lend­ing so­lu­tions for new in­vest­ments, char­ac­terised by a longer re­pay­ment pe­riod, ben­e­fi­cial lend­ing rates and fa­vor­able terms to SMEs, which are the back­bone of the Cypriot econ­omy, a bank an­nounce­ment said.

Salut­ing the ex­ten­sion of RCB Bank’s co­op­er­a­tion with the Euro­pean In­vest­ment Bank, CEO Dr. Kir­ill Zi­marin noted: “We sin­cerely thank the EIB for the ex­ten­sion of our co­op­er­a­tion and re­main com­mit­ted in pro­vid­ing SMEs and Cypriot en­ter­prises with the much needed and com­pet­i­tive fi­nanc­ing they re­quire in or­der to fa­cil­i­tate their in­vest­ment plans in Cyprus. Co­op­er­a­tions like these are cru­cial in help­ing the real econ­omy of Cyprus to con­tinue grow­ing and thus re­in­state our coun­try to the po­si­tion it de­serves”.

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