Cyprus Mail

Cyprus to host EBRD board’s AGM

Cyprus will host the 26th Annual General Meeting of the Board of Governors of the European Bank for Reconstruction and Development (EBRD) and the Business Forum titled “Targeting Green and Inclusive Growth: Meeting Regional and Global Challenges”, from May 9-11.

According to an announcement, the finance ministry this will be the first time the island will host the meeting.

It is expected that around 2,000 people will participate, including ministers of finance, governors of central banks and other high-level officials, entrepreneurs and foreign investors, as well as representatives from civil society organisations. The event is expected to attract the interest of a high number of local and international media.

The EBRD is an international multilateral financial institution, owned by 65 shareholder countries, the European Investment Bank and the European Union.

The Bank has been operating in Cyprus on a temporary basis since May 2014 with the purpose of financing sustainable development projects, and to date it has invested around €200m.

The Business Forum will also take place in the context of the AGM, which includes the organisation of a special event for the promotion of Cyprus as an investment hub.

The whole event presents a great opportunity for promoting Cyprus as a business and tourist centre, as well as enhancing Cyprus’ important regional role in addressing problems/challenges in the Eastern Mediterranean, the ministry said.

Finance Minister, Harris Georgiades and General Secretary of EBRD, Enzo Quattrociocche, will sign a Memorandum of Cooperation, on Tuesday,  January a 24 at the ministry of finance.

The Memorandum of Cooperation includes the obligations of both sides on a number of technical issues for the smooth and successful preparation of the event.

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Source: Cyprus News Agency