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Cyprus News Agency: News in English, 09-01-22

Cyprus News Agency: News in English Directory - Previous Article - Next Article

From: The Cyprus News Agency at <>




    The European Investment Bank (EIB) will finance Cyprus with up to 300 million euro for infrastructure projects, the use of renewable sources and for supporting small and medium-sized enterprises, through Cypriot commercial banks, thus boosting the islands economy and social coherence.

    This was stated Thursday by EIB Vice-chairman Ploutarhos Sakelaris after a meeting he held in Nicosia with Finance Minister Charilaos Stavrakis.

    In statements to the press after the meeting, Sakelaris expressed the EIBs confidence in the Cypriot economy and the measures taken by the government, adding that the economy of Cyprus ``will continue to develop despite the world economic crisis.

    He said that in 2009, Cyprus would receive double financing compared to the amount it received in the past ten years.

    ``Our cooperation with the Cypriot authorities is very good, but through effort we could increase our activities in Cyprus and double it this year and next year. With effort and the proper development projects the financing for Cyprus could reach 200 to 300 million euro, he said.


    British Minister for Europe Caroline Flint announced Thursday that the UK would donate 50,000 euro to the UN Mine Action Centre in Cyprus.

    According to a press release by the British High Commission in Nicosia, Caroline Flint said that the UN Mine Action Centre has been a highly successful confidence building measure, helping to build trust between the communities and is now close to delivering its goal of a mine-free buffer zone.

    She noted that the work of the centre was vital in enabling the Ledra Street crossing point to open.

    Flint added that this donation would cover the running costs of the Mine Action Centre for February and March.


    The world economic crisis is the main issue concerning Greek Cypriots and Turkish Cypriots on the island, according to the Eurobarometer, which was released on Thursday.

    According to the report for the areas under the control of the government of the Republic of Cyprus, the vast majority of citizens (85%) feel satisfied with their lives, noting that the level of satisfaction of citizens has decreased by 5% since the last Eurobarometer in spring 2008.

    The vast majority of Cypriots (78%) is not satisfied with the cost of living in Cyprus. Just 22% is satisfied; while in the E.U.27, 78% is dissatisfied and 21% satisfied. A total of 88% of citizens residing in the areas under the control of the Republic of Cyprus are dissatisfied with energy prices, a consequence of successive increases in the price of crude oil since the summer of 2008.

    Asked regarding their purchasing power, 78% of Cypriots believe it has decreased. This is the highest negative percentage recorded in the E.U.27. In addition, 67% of citizens say that they have difficulty paying all of their bills at the end of the month.

    The majority of citizens, 53%, find the condition of their national economy to be good.

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