EIB Pushes SMEs Development in Cyprus

The European Investment Bank approved on March 8 a loan worth 50 million euros (USD68 million) to support the development of small and medium-sized enterprises in Cyprus. The funds, which will be channeled through the local Cooperative Central Bank, will allow EIB to support more small entrepreneurial activities in the country. In 2009, EIB entered in similar deals with three other local Cypriot banks.

About the author

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    Ivy Mungcal

    As former senior staff writer, Ivy Mungcal contributed to several Devex publications. Her focus is on breaking news, and in particular on global aid reform and trends in the United States, Europe, the Caribbean, and the Americas. Before joining Devex in 2009, Ivy produced specialized content for U.S. and U.K.-based business websites.