The fate of the energy bridge in question: The European Investment Bank's decision will determine the project's future

The Great Sea Interconnector (GSI) electrical connection project has entered a decisive phase: its further implementation depends on the position of the European Investment Bank (EIB), which must assess the project's readiness for financing in the amount of 1 billion euros.

In the coming months, the EIB will conduct a comprehensive review of the project's technical, financial, and organizational viability. Based on the results, the bank will make a key decision: if the project is deemed sufficiently mature, it will move to the implementation stage; otherwise, it may be permanently halted.

The initiative gained new momentum following a joint appeal by the energy ministers of Greece and Cyprus to the EIB, requesting a formal assessment. This step follows a long period of uncertainty accompanied by technical and financial difficulties.

The interconnector project is considered strategic for the region's energy security. It aims to connect the power systems of the two countries and reduce the energy isolation of Cyprus, which remains one of the few EU states without an electrical connection to the pan-European network.

The EIB's decision is expected to be a turning point: a positive verdict will clear the way for construction, while a rejection will jeopardize the implementation of one of the largest infrastructure projects in the Eastern Mediterranean.