Luxembourg, 03/06/2004 (Agence Europe) - The European Investment Bank (EIB), the European Union's long-term financing institution, is providing a total of EUR 235 million for energy, environment and Information Technology in the Republic of Cyprus.
EUR 100 million for the Greater Nicosia Sewerage Project are made available to the Sewerage Board of Nicosia for upgrading and extending the sewerage system, as well as the treatment facilities within the service area of Sewerage Board of Nicosia.
EUR 35 million for IT investments in Public Service are advanced to the Republic of Cyprus for the Cypriot Ministry of Finance, Department of Information Technology Services (DITS). This is the second tranche of an overall approved financing of EUR 70 million in favour of the project. The enhancement of the Public Administration's IT systems is a major target for the Cypriot Government, as it is considered essential for ensuring a successful integration of Cyprus into the EU.
EUR 100 million for Energy project goes to the Electricity Authority of Cyprus. The funding is in support of the Vasilikos Power Plant.