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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.

    Media enquiries

    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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