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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

    General enquiries and comments

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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.
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