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Signature(s)

Amount
€ 80,000,000
Countries
Sector(s)
Cyprus : € 80,000,000
Transport : € 80,000,000
Signature date(s)
18/03/2011 : € 80,000,000
Link to source
Data sheet

Summary sheet

Release date
15 September 2010
Status
Reference
Signed | 18/03/2011
20100160
Project name
Promoter - financial intermediary
National Roads II

Ministry of Communication and Works
Public Works Department

Proposed EIB finance (Approximate amount)
Total cost (Approximate amount)
EUR 100 million.
EUR 200 million.
Location
Sector(s)
Description
Objectives

Investment loan with three components:
(i) Upgrading of about 14 km of A1 motorway from Nicosia to Ayia Varvara and associated access roads;
(ii) Upgrading and new construction of about 5 km of highway to improve access to Limassol port;
(iii) Implementation of a countrywide speed camera program

The project is expected to improve traffic conditions in several sections of the Cypriot road network. It would have significant economic benefits such as savings in operating costs and in travel time, as well as improved road safety.

Environmental aspects
Procurement

The applicability of the SEA Directive is to be assessed during appraisal. The two road schemes to be included in the project all fall under Annex II of the EIA Directive 85/337/EEC as amended and therefore are to be screened by the Competent Authority to determine whether an EIA is necessary or not. The screening and, where applicable, subsequent EIA procedure, including as necessary issues related to the Habitats and Birds Directives, are to be assessed during appraisal. The road safety component of the project does not fall under either Annex I or II of the EIA Directive 85/337/EEC.

The Promoter is a contracting authority governed by public law and is subject to provisions of Directive 2004/18/EC. The Bank will examine the procurement arrangements during appraisal.

Link to source
Summary sheet

Disclaimer

Before financing approval by the Board of Directors, and before loan signature, projects are under appraisal and negotiation. The information and data provided on this page are therefore indicative.
They are provided for transparency purposes only and cannot be considered to represent official EIB policy (see also the Explanatory notes).

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Alternatively, the EIB can be contacted through its external offices.
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The EIB has a zero tolerance policy on fraud or corruption. To report allegations of fraud and corruption relating to EIB-financed projects, please contact the Fraud and Investigation division. All complaints will be treated as strictly confidential and handled in line with the EIB investigation procedures and the Anti-Fraud Policy.

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