The European Bank for Reconstruction and Development has expressed its willingness to invest around 800 million euro to the Cypriot economy, mainly in the energy and tourism sectors, privatisation of semi governmental organisations and major projects of more than ten million each.
Head of EBRD in Cyprus, Libor Krkoska, held a meeting today with President of the Employers` and Industrialists` Federation (OEV), Christos Michaelides. In statements after the meeting, Michaelides said that the EBRD official presented to the members of OEV the work of the bank.
“EBRD is willing to allocate around 800 million euro. They are interested in major projects in the Cypriot market, of more than 10 million each, in energy, tourism and privatisations”, he said.
Asked to elaborate on EBRD`s interest in energy, Michaelides pointed out that their interest is of a more general nature and includes renewable energy sources. He noted that Cyprus has comparative advantages to offer in this area.