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The top decision-makers of the European Investment Bank (EIB) are in Cyprus for their first board meeting in the country, shining a spotlight on the island as a key partner in European development.
Executives from all 27 EU member-states have gathered in Limassol, coinciding with Cyprus’ presidency of the European Council. The main discussions will take place on Tuesday at the Grand Resort Hotel.
On Monday afternoon, the board members were to visit the West Limassol Biological Station, an EIB-funded project, before attending a working dinner hosted by Finance Minister Makis Keravnos. President Nikos Christodoulides will address the board on Tuesday at noon, followed by a private meeting with EIB President Nadia Calvino.
Cyprus has seen significant backing from the EIB over the past five years, with investments exceeding 1.5 billion euros. Just last week, three new agreements were signed: a €50 million fund for the Thalia 2021-2027 program, €5 million to upgrade the Cyprus Institute of Neurology and Genetics, and €62.5 million with Eurobank to support local small and medium-sized enterprises under the InvestEU initiative.