Cyprus Mail
Business Cyprus

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

Fire service rescues injured hunter

Katy Turner

People trapped in cars, flooded basements as fire services on call in Larnaca (video)

Katy Turner

How much has technology changed in the last 20 years?

Melissa Hekkers

Coronavirus: Over 5,700 people got Covid vaccine on Saturday

Katy Turner

Coronavirus: 27 people, 19 businesses fined in last 48 hours

Katy Turner

Police to launch campaign against drink driving

Katy Turner

12 comments

Comments are closed.