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    Reference: 20160037
    Release date: 15 April 2016

    Promoter – Financial Intermediary




    The project includes construction of an extension and purchase of equipment as well as the intangible cost of research activities at the Cyprus Institute of Neurology and Genetics.


    The purpose of the project is to enhance the services, research and academic activities performed at the Cyprus Institute of Neurology and Genetics. The EIB will mainly support investments in new research and development (R&D) infrastructure as well as research programmes. The project is fully consistent with the Bank's Knowledge Economy objectives and the targets agreed in the context of the EU Horizon 2020.


    Proposed EIB finance (Approximate amount)

    EUR 21 million

    Total cost (Approximate amount)

    EUR 31 million

    Environmental aspects

    Hospitals and medical research institutes are not specifically mentioned in the Environmental Impact Assessment (EIA) Directive 2011/92/EU as amended, though the project is covered by Annex II of the directive in relation to urban development. The Bank's services will verify during appraisal whether an EIA is required by the competent authority.


    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 (Directives 2004/18/EC or 2014/24/EU where applicable, and/or 2004/17/EC, or 2014/25/EU where applicable, as well as Directives 89/665/EEC and 92/13/EEC) as interpreted by the Court of Justice of the EU, with publication of tender notices in the Official Journal of the EU, as and where required.


    Signed - 1/06/2017


    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).

    Related tags

    Cyprus Services Health