Cyprus Mail
Business

EBRD willing to invest €800m

The EBRD building in London

THE European Bank for Reconstruction and Development (EBRD) has expressed its willingness to invest around €800m into the Cypriot economy, mainly in the energy and tourism sectors, privatisation of semi governmental organisations and major projects of more than €10m each.

Head of EBRD in Cyprus, Libor Krkoska, held a meeting yesterday with the head of the Employers and Industrialists Federation (OEV) Christos Michaelides.

“EBRD is willing to allocate around €800m. They are interested in major projects in the Cypriot market, of more than €10m each, in energy, tourism and privatisations,” Michaelides later told reporters.

Asked to elaborate on EBRD’s interest in energy, Michaelides pointed out that their interest is of a more general nature and includes renewable energy sources. He noted that Cyprus has comparative advantages to offer in this area.

EBRD recently acquired a 5 per cent stake in Bank of Cyprus after investing some €100m as part of a capital increase by the lender.

Related posts

More awards for South African Cypriot sibling maths geniuses

Annette Chrysostomou

Mayor to meet planning authorities over developer’s request to expand Coral Bay resort

Bejay Browne

Paphos ceremony to remember car crash victims

Bejay Browne

Pope Francis welcomes Anastasiades to Vatican, will visit Cyprus in 2020

Jonathan Shkurko

Anastasiades says he’s saddened by Turkish FM’s negative comments

George Psyllides

Urgent need for national strategy for sexually abused children

Gina Agapiou

12 comments

Comments are closed.