European Investment Bank to Open Office in Cyprus

A local office of the European Investment Bank (EIB) is set to open in Cyprus, with its staff temporarily housed in the Ministry of Finance building.

This decision follows a meeting in Luxembourg between Cyprus Finance Minister Makis Keravnos and EIB President Nadia Calviño during the institution's annual meeting of financial executives.

The opening of the EIB office in Cyprus aims to strengthen cooperation with local authorities and partners in both public and private sectors.

"The establishment of a local EIB office will bring significant benefits to Cyprus, allowing the bank to respond promptly to the island's economic needs. Moreover, various public and private enterprises will benefit from the expertise and technical support of the bank's staff during project evaluation and implementation," noted the ministry's statement.

To expedite the office's operational start in Cyprus, Makis Keravnos proposed temporarily accommodating EIB staff in the Ministry of Finance building until a permanent office location is secured on the island.

The official opening ceremony of the office is expected to take place in autumn, with the presence of the EIB President.

The European Investment Bank is a state financial institution of the European Union, providing long-term loans for the development of less developed European regions. Its headquarters are in Luxembourg, with local offices in 55 countries (including 23 EU member states and 32 third countries).