The European Investment Bank (EIB) has announced that it aims to invest €300 million in Cyprus during 2010, a 50 per cent increase on 2009's record investment of €202 million.
In 2009 the EIB provided €138 million to support SMEs and small and medium-scale infrastructure investments by private or public bodies, including local authorities. This amount was matched by the three domestic banks through which the funding was made available, giving a total of €276 million available in offered loans The EIB also provided €64 million for the design, construction and operation of an 82 MW wind farm of 41 turbines which represents 27% of the planned installed wind energy capacity of 300MW by 2020.
During 2010 the EIB will work with the Co-operative banks in Cyprus to provide cheap loans to small businesses.
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