Release date: 22 May 2012
Promoter – Financial Intermediary
REPUBLIC OF CYPRUSLocation
Description
Co-financing of EU Operational Programmes in the fields of Sustainable Development and Competitiveness and Employment, Human Capital and Social Cohesion.
Objectives
The project aims at financing the Cypriot National Strategic Reference Framework, which defines five investment priorities in the 2007-2013 programming period:i. strengthening the productive base of the economy and supporting enterprises;ii. knowledge society and promotion of Research and Development and Innovation;iii. human resources, employment and social cohesion;iv. environment, transport and energy infrastructures; andv. development of sustainable communities.
Sector(s)
Proposed EIB finance (Approximate amount)
EUR 150 million
Total cost (Approximate amount)
EUR 800 million
Environmental aspects
The project is a multi-scheme operation classified as a Framework Loan/Structural Programme Loan. Some of the schemes may eventually fall under Annex I or Annex II of the EIA Directive 2011/92/EU, or may have an impact on an area forming part of the Natura 2000 network. It is a requirement that all the schemes must be implemented in compliance with the EU environmental legislation.
Procurement
The Bank will require the Promoter to ensure that contracts for the implementation of the project have been/shall be tendered in accordance with the relevant applicable EU procurement legislation (Directive 2004/18/EEC or 2004/17/EEC and Directive 2007/66/EC), with publication of tender notices in the EU Official Journal, as and where appropriate.
Status
Signed - 25/07/2012
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).