Brussels, 27/07/2012 (Agence Europe) - The European Investment Bank signed two loans on 25 July for up to €268 million for key investments in Cyprus.
The first, worth €200 million will support implementation of the Cypriot National Strategic Reference Framework (NSRF). The EIB loan will be used by the Cypriot state for investments in priority areas identified. The investments to be financed are grouped around selected priorities of two comprehensive Operational Programmes (OPs) of the Republic of Cyprus. The schemes implemented within these OPs are expected to contribute primarily to the achievement of objectives in sustainable development and competitiveness, as well as employment, human capital and social cohesion. The investments will address long-term objectives of the Cypriot economy in the sectors of solid waste management, port infrastructure, renewable energy, knowledge economy, human capital, SMEs and sustainable urban development.
The second loan, of €68 million, will support the Limassol-Amathus Sewerage and Drainage Project, a multi-phase project which began in 1992 and which will bring the system into line with the requirements of the EC urban wastewater treatment directive. The project also includes an all-round upgrade of the existing main collector system. Upon completion in 2017, the project will extend the service area for wastewater collection, the EIB points out. (OL/transl.rt)