Cyprus: EIB declares strong support for the ACP countries

Addressing the Commonwealth Finance Ministers’ meeting today in Limassol, Cyprus, EIB Vice-President Plutarchos Sakellaris stated: “This meeting brings together almost one-third of the world’s Finance Ministers.  African, Caribbean and Pacific countries represent the vast majority of the Commonwealth states.  With the crisis hitting these countries later than most advanced economies, there is scope for the EIB to step up its support in the coming months.”  Mr Sakellaris also congratulated Cyprus on the excellent organisation of the CFMM, which allowed the leaders of the Commonwealth countries to exchange views and experiences.

Mr Harilaos Stavrakis, Minister of Finance of Cyprus, host and Chairman of the meeting, stated:  “We are experiencing one of the worst ever global economic crises and we are faced with the challenge of recovery and sustainable growth.  This challenge requires action not only on a national level, but also concerted and coordinated action on an international level.  The EIB can support this action in a concrete way.”

On the fringes of the meeting, Mr Sakellaris held a number of bilateral discussions with the Finance Ministers of Barbados, Malawi, Mauritius and Zambia, aimed at strengthening cooperation.

Speech of Mr. Plutarchos Sakellaris, Vice President of the EIB