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Signature(s)

Amount
€ 19,000,000
Countries
Sector(s)
Cyprus : € 19,000,000
Telecom : € 19,000,000
Signature date(s)
21/12/2020 : € 19,000,000
Link to source

Summary sheet

Release date
12 February 2020
Status
Reference
Signed | 21/12/2020
20190399
Project name
Promoter - financial intermediary
EPIC BROADBAND NETWORK DEVELOPMENT
EPIC LTD
Proposed EIB finance (Approximate amount)
Total cost (Approximate amount)
EUR 19 million
EUR 33 million
Location
Sector(s)
Description
Objectives

The project relates to the rollout of a fixed Very High Capacity (VHC) broadband access network in Cyprus, based on fibre-to-the-home (FTTH) technology. With this project, the promoter plans to cover residential living units, located both in densely populated areas and in less densely populated areas, and will cover a significant part of the households in the country. The project includes the rollout of the fibre network, including the related investments in the backbone network and IT systems.

The project will result in increasing the capacity, and therefore the speed and quality of service of the promoter's fixed broadband network in the country.

Environmental aspects
Procurement

Investments in fixed telecommunications projects (mainly civil works for fibre rollout) do not fall under the EIA Directive 2011/92/EC as amended. The related works have limited environmental effects, apart from disturbances during civil work constructions, which can be mitigated by appropriate measures.

The promoter has been assessed by the Bank as being a private company not operating in the utilities sector and not having a status of a contracting entity, thus not being subject to EU rules on public procurement.

Link to source

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).

Documents

Environmental and Social Data Sheet (ESDS) - EPIC BROADBAND NETWORK DEVELOPMENT
Publication Date
1 Oct 2020
Document language
Main Topic
Lending
Document Number
130468526
Document Focus
Environmental Information
Project Number
20190399
Sector(s)
Regions
Countries
Publicly available
Download now
scoreboard - EPIC BROADBAND NETWORK DEVELOPMENT
Publication Date
16 Oct 2020
Document Language
English
Main Topic
lending
Document Number
134255534
Document Focus
EFSI legal requirements
Document Type
Scoreboard
Project Number
20190399
Last update
17 Oct 2020
Sector(s)
Telecom
Countries
Cyprus
Publicly available
Download now

News & Stories

General enquiries and comments

The EIB is committed to open communication and encourages constructive stakeholder input regarding its activities.
Enquiries and comments concerning the EIB’s involvement in a project or the financing facilities, activities, organisation and objectives of the EIB, can be sent to the EIB Infodesk.
Alternatively, the EIB can be contacted through its external offices.
Queries regarding details of a specific project, in particular when it is under appraisal by the EIB, should preferably be addressed directly to project promoters.

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Media-related enquiries can be addressed to the EIB Press Office. Please also visit our Media information section.

Complaints mechanism

Any complaint regarding alleged maladministration can be lodged via the EIB Complaints Mechanism. The European Ombudsman acts as an independent external accountability mechanism of the EIB.

Zero tolerance against fraud and corruption

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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