The European Investment Bank (EIB) today signed a EUR 50 million loan in Cyprus with Hellenic Bank to support investments by local small and medium-sized enterprises (SMEs) and MidCaps, bolstering growth and creating new jobs for young people.
A State Guarantee agreement between the EIB and the Republic of Cyprus was also signed.
“I am very pleased to be in Nicosia today to extend the European Investment Bank’s credit line to Hellenic Bank to further support local SMEs and Midcaps, which are the backbone of the Cypriot economy,” said European Investment Bank President Werner Hoyer.
Today’s loan with Hellenic Bank is the third, bringing the total signed with Hellenic Bank to EUR 100 million, and builds on a scheme which the EIB with Ministry of Finance [...]