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Cyprus News Agency: News in English, 12-03-11

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

From: The Cyprus News Agency at <>


  • [01] Credit guarantee for SME from EIB

  • [01] Credit guarantee for SME from EIB

    European Investment Bank Vice President Plutarchos Sakellaris said he intended to make every effort in order have an SME credit guarantee fund up and running in Cyprus by next autumn.

    Sakellaris, made the remarks after being received by President Christofias at the Presidential Palace and informed him on the efforts to establish the fund, as well as on other EIB financing schemes.

    In statements after the meeting, Sakellaris said they discussed the EIB’s planning to assist the Cypriot government in establishing the fund, with an initial capital of 25 to 50 mln euros.

    The fund will be initially bequeathed with a capital loan by the EIB and will be later financed with equal funds from the state budget, Sakellaris pointed out, noting that the aim is to provide guarantees for covering part of the banks’ risks when lending money to SMEs.

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