EIB signs €100 million loan for Cyprus sewerage projects

On Friday, Agriculture Minister Petros Xenophontos expressed his satisfaction at the signing of loan agreements between the European Investment Bank (EIB) and the Sewerage Boards of Limassol-Amathus, Larnaca, and Nicosia.

“This significant step is set to greatly contribute to the execution of crucial sewage projects overseen by these boards on behalf of the state,” Xenophontos said.

The projects, deemed a top priority by the minister, align with relevant national legislation on urban wastewater and focuses on communities inhabited by more than 2,000 people.

Back in April, the European Commission sent a letter to the Cypriot government warning of delayed compliance to the planned projects on wastewater treatment.

“The recent agreements between EIB and the sewerage boards, securing up to €100 million, reflect joint efforts by the finance and agriculture ministries, the environmental department and the water development department,” Xenophontos added.

“The funds, distributed among the boards and the state, aim to expedite the implementation of different projects while avoiding a direct strain on the national budget.”

Xenophontos also stressed the multifaceted benefits of the sewage projects, “not only ensuring compliance but also preserving the environment, safeguarding underground water resources, and promoting public health for residents in these areas.”

He extended his gratitude to the EIB and reiterated his ministry’s commitment to stand alongside the sewerage boards and support their endeavours.