EIB approved a loan of up to €100 mln for Cyprus

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The European Investment Bank, the European Union’s nonprofit long-term lending institution, approved Tuesday a loan of up to €100 million for key investments in Cyprus, the Luxembourg-based bank said in a statement. The loan will be used for investments in priority areas identified in the National Strategic Reference Framework, which include improving the competitiveness of the Cypriot economy, promoting sustainable development, and investing in skills and innovation. It will therefore contribute to the smart, sustainable and inclusive growth of the Cypriot economy in line with the Europe 2020 strategy, it said.

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