The Cabinet decided recently to provide government guarantees to the Bank of Cyprus and the Hellenic Bank for taking loans amounting to €50 and €35 million respectively, from the European Investment Bank (EIB).
The aim of the loans is for financing small and medium-sized enterprises (SMEs) and medium-sized corporates (mid-caps) in Cyprus.
According to CNA sources, EIB President Werner Hoyer will visit Cyprus for the signing of the agreement and will have a meeting with Cyprus President Nicos Anastasiades on September 19, 2014.
Source: Famagusta Gazette
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