The European Investment Bank (EIB), Cyprus’ Ministry of Finance and the Cyprus Institute of Neurology and Genetics (CING) signed two new financing agreements on Thursday, for €55 million of additional funding for projects associated with healthcare, research, education, and sustainable development.
The first agreement that was signed concerns additional financing of €5 million for CING, bringing the EIB’s total support for the institute to €31 million. The new funds will be used to complete the construction of new facilities, refurbish existing premises, and purchase advanced medical and laboratory equipment, including genomics, proteomics, microscopes, bioinformatics tools, and a biobank.
The second agreement involves the allocation of €50 million to the Operational Program THALIA 2021-2027, which is Cyprus’ main development program. It aims to promote smart, green and inclusive growth, with investments in areas such as energy and water efficiency, modernization of schools and vocational training centers, development of digital public services, and environmental protection and climate resilience. The THALIA budget amounts to €1.5 billion, with the EIB having already financed €180 million.