Finance Minister discusses electrical connection with Greece, Israel

Cyprus’ Finance Minister Makis Keravnos met with the chairman of Greece’s Independent Power Transmission Operator (Ipto) Manousos Manousakis, according to an announcement released on Tuesday evening.

The announcement said that an Ipto delegation accompanied Manousakis.

The meeting, which took place on Tuesday at the Ministry of Finance in Nicosia, involved a discussion on a number of matters, including the electrical interconnection between Greece, Cyprus, and Israel.

In addition, the announcement stated that the discussion focused on the further promotion of the procedures for the financing of the project.

Relatedly, it should be noted that the vice president of the European Investment Bank (EIB) Kyriacos Kakouris on February 29 confirmed that the EIB’s stance on the Great Sea Interconnector, the afforementioned electrical interconnection project between Cyprus, Greece, and Israel, remains negative.

Kakouris, who made these comments during a press conference at the Finance Ministry, during which the bank’s results were presented, also stated that no new funding request for the project has been submitted by the Republic of Cyprus.