The European Investment Bank (EIB) will grant credit lines totaling €150 million, aiming at supporting small and medium-sized enterprises (SMEs) and medium capitalisation companies in Cyprus.
The Finance Ministry has announced that the credit lines will be singed by Minister of Finance Harris Georgiades and EIB Vice President Jonathan Taylor.
During his stay on the island, Talyor will hold a number of meetings with Georgiades with whom he will discuss matters of cooperation between Cyprus and the EIB and the Bank’s activities in the context of supporting the Cypriot economy.
The credit lines include €100 million to Bank of Cyprus, €20 million to RCD, €15 million to the Cyprus Development Bank and €15 million to USB aiming at financing SMEs and midcaps.
EIB’s total funding to Cyprus for the period of 2011–2015 amounted to €1,31 billion.
Source: InCyprus
