The European Investment Bank (EIB) and Cyprus Ministry of Finance have agreed to extend loans for investments in the island’s small and medium-sized enterprises and medium capitalisation companies (midcaps), totaling €50 million in value.
The loans will support new investments promoted by viable and eligible companies with up to 3,000 employees which require financing up to €25 million.
These loans, managed by four Cypriot banks, are expected to facilitate the enhancement of liquidity, support economic recovery and create jobs, the EIB expressed on Thursday.
