Press Release: EIB supports economic rebound in Europe and Cyprus

The European Investment Bank increased its total lending volume in 2009 to an unprecedented EUR 79 billion , a 37% rise from EUR 58 billion in 2008. This represents a new milestone in providing financial support for the European economy. Last year, the EIB reinforced its focus on (i) small and medium-sized enterprises (SMEs), (ii) economically weaker regions across Europe (“convergence areas”) and (iii) the energy sector in the context of the fight against climate change. In this context, the EIB signed on 8 March 2010 in Nicosia a EUR 50 million agreement with the Co-operative Central Bank Ltd. for financing small and medium-sized enterprises in Cyprus. The signature ceremony was in the presence of Mr. Harilaos Stavrakis, Cypriot Minister of Finance . The agreement was signed on behalf of the EIB by Vice-President Plutarchos Sakellaris and for the Co-operative Central Bank by General Manager Mr. Erotokritos Chlorakiotis.