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Signature(s)

Amount
€ 100,000,000
Countries
Sector(s)
Cyprus : € 100,000,000
Water, sewerage : € 100,000,000
Signature date(s)
8/12/2023 : € 10,000,000
19/12/2023 : € 15,000,000
19/12/2023 : € 75,000,000
Link to source

Summary sheet

Release date
27 April 2023
Status
Reference
Signed | 08/12/2023
20220695
Project name
Promoter - financial intermediary
CYPRUS WASTEWATER INVESTMENTS PROJECT
REPUBLIC OF CYPRUS
Proposed EIB finance (Approximate amount)
Total cost (Approximate amount)
EUR 100 million
EUR 206 million
Location
Sector(s)
  • Water, sewerage - Water supply; sewerage, waste management and remediation activities
Description
Objectives

The project will finance the construction of sewer networks and treatment facilities for peri-urban communities across Cyprus. It will support the National Implementation Programme for the EU Urban Wastewater Treatment Directive, as well as the Central Government's strategy to align with the EU Urban Wastewater Treatment Directive.

The aim is to comply with the EU environmental standards, whilst improving service efficiency. Furthermore, investments in wastewater projects generate positive externalities, such as environmental and public health benefits, by avoiding surface and groundwater pollution.

Additionality and Impact

The Project concerns priority investments which must be implemented for Cyprus to comply with EU Directives in the wastewater sector (such as "Urban Wastewater Treatment Directive 91/271/EEC" (UWWTD)) and addresses the sub-optimal investment situation in the wastewater sector in the country. If the agreed investments are not implemented within the agreed timeframe the Republic of Cyprus may be asked to pay penalty fees.


The EIB financing on favourable terms such as long tenors matching the asset life, flexibility of drawdowns and longer availability periods matching implementation of the Project as well as attractive interest rates assist with the affordability of such large public investment programmes.


EIB and the Council of Europe Development Bank (CEB) have worked together to appraise the project and will co-financed some of the investments.

Environmental aspects
Procurement

Final beneficiaries will be requested to comply with applicable national and EU legislation, as appropriate.

Final beneficiaries will be requested to comply with applicable national and EU legislation, as appropriate.

Milestone
Under appraisal
Approved
Signed
20 September 2023
8 December 2023
Link to source

Disclaimer

Before financing approval by the Board of Directors, and before loan signature, projects are under appraisal and negotiation. The information and data provided on this page are therefore indicative.
They are provided for transparency purposes only and cannot be considered to represent official EIB policy (see also the Explanatory notes).

Documents

Environmental and Social Impact Assessment (ESIA) - CYPRUS WASTEWATER INVESTMENTS PROJECT - Link to promoter's website
Publication Date
3 Jul 2023
Document language
Main Topic
Lending
Document Number
172168696
Document Focus
Environmental Information
Project Number
20220695
Sector(s)
Regions
Countries
Publicly available
Download now
Environmental and Social Impact Assessment (ESIA) - CYPRUS WASTEWATER INVESTMENTS PROJECT
Publication Date
3 Jul 2023
Document language
Main Topic
Lending
Document Number
172098239
Document Focus
Environmental Information
Project Number
20220695
Sector(s)
Regions
Countries
Publicly available
Download now
Environmental and Social Data Sheet (ESDS) - CYPRUS WASTEWATER INVESTMENTS PROJECT
Publication Date
21 Sep 2023
Document language
Main Topic
Lending
Document Number
171840513
Document Focus
Environmental Information
Project Number
20220695
Sector(s)
Regions
Countries
Publicly available
Download now

News & Stories

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Enquiries and comments concerning the EIB’s involvement in a project or the financing facilities, activities, organisation and objectives of the EIB, can be sent to the EIB Infodesk.
Alternatively, the EIB can be contacted through its external offices.
Queries regarding details of a specific project, in particular when it is under appraisal by the EIB, should preferably be addressed directly to project promoters.

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Media-related enquiries can be addressed to the EIB Press Office. Please also visit our Media information section.

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Any complaint regarding alleged maladministration can be lodged via the EIB Complaints Mechanism. The European Ombudsman acts as an independent external accountability mechanism of the EIB.

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The EIB has a zero tolerance policy on fraud or corruption. To report allegations of fraud and corruption relating to EIB-financed projects, please contact the Fraud and Investigation division. All complaints will be treated as strictly confidential and handled in line with the EIB investigation procedures and the Anti-Fraud Policy.

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