The annual meeting of the European Bank of Reconstruction and Development (EBRD) in Nicosia is a great opportunity to showcase Cyprus’ economic recovery, the president of the bank Suma Chakrabarti said on Tuesday, the eve of the official opening.
Speaking after meeting President Nicos Anastasiades at the presidential palace, Chakrabarti said they had discussed future prospects for Cyprus and for EBRD.
The bank had a really strong start in Cyprus and over the past three years had facilitated more than €225m to financial institutions, SMEs and other ventures.
“We have some more years of good investment ahead of us. So we think the prospects are great,” he said.
“The annual meeting here in Nicosia is a great opportunity to showcase the wonderful economic recovery which is taking place on this island and the future prospects,” he added.
Asked about the events organised by the EBRD in the north of the island for which there has been some pushback on the Greek Cypriot side, the EBRD head said they were very small events were taking place there before the annual meeting actually starts.
The official meeting kicks off on Wednesday under the title ‘Targeting Green and Inclusive Growth: Meeting Regional and Global Challenges’ and will wrap up on Thursday.
This is the first annual conference of an international financial institution in Cyprus and government representatives, business people, civil society organisations, experts and international and local media are attending.
A panel discussion on ‘Making Green Growth Work for Women’ was held in the north while a symbolic basketball event with young players from the north and south of the island was held in the buffer zone and was attended by Chakrabarti, Finance
Minister Harris Georgiades and UN Special Representative of the Secretary General Elizabeth Spehar.
The official opening of the annual meeting will take place Wednesday at the Filoxenia Conference Centre in Nicosia with the Opening Session of the Board of Governors of the Bank.
During the annual meeting there will also be presentations about the business opportunities in country members of the bank including Bosnia and Herzegovina, Egypt, Georgia, Greece, Jordan, Kazakhstan, Moldova, Poland, Romania and Ukraine.
As host country, Cyprus will take the opportunity to present itself to the business community in a special event, which will be opened with keynote addresses by Chakrabarti and Georgiades. Energy Minister Giorgos Lakkotrypis will also speak at the presentation.
Chakrabarti will inform the press of the results of the Governors’ Meeting in his traditional media briefing on Thursday. On the same day, there will be a panel discussion on green growth, concluding with EBRD Sustainability Awards which recognise achievements on sustainable energy, climate change adaptation, environmental and social best practice; and environmental and social innovation.
The bank will also launch its first Inclusion Strategy with a press conference.
Media representatives will also have the chance to visit Kourion and an EBRD-financed photovoltaic project in Pera Chorio Nisou.