The Ministry of Finance will this week proceed with the signing of two loan agreements with the European Investment Bank (EIB) for the THALIA 2021–2027 Program and the Cyprus Institute of Neurology and Genetics.
More specifically, the two agreements that will be signed concern:
- €50 million loan – THALIA 2021–2027 Program
This is the second tranche of €50 million out of the total loan of €369 million, for the co-financing of projects and programs included in the THALIA 2021–2027 Program and co-financed by the Cohesion Policy Funds of the European Union. The program aims to support green growth, innovation, digital transition, social cohesion and the creation of new jobs.
- Cyprus Institute of Neurology and Genetics (CING) loan increase (€31 million from €26 million)
This is an amendment to the loan agreement to CING, aiming to increase the total loan from €26 million to €31 million to finance the expansion of its facilities. The increased amount of €5 million will be accompanied by a state guarantee and will strengthen the research capabilities and the Research & Innovation sector in Cyprus, including the construction of a new building for Research & Development projects and the renovation of existing facilities.
The signing of the above agreements is anticipated to take place on Thursday, 25 September 2025, at 10am.
The loan agreement for the THALIA 2021–2027 Program will be signed by the Minister of Finance, Makis Keravnos, and the Vice President of the EIB, Kyriacos Kakouris.
The loan to the CING will be signed by the Minister of Finance, Makis Keravnos, the Vice President of the EIB, Kyriacos Kakouris, and the Chief Executive Medical Director of CING, Leonidas Phylactou, while the agreement for the state guarantee of the Republic of Cyprus to the EIB will be signed by the Minister of Finance and the Vice President of the EIB.
(Source: InBusinessNews)
