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    Reference: 20190399
    Release date: 12 February 2020

    Promoter – Financial Intermediary




    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.


    • Telecom - Information and communication

    Proposed EIB finance (Approximate amount)

    EUR 19 million

    Total cost (Approximate amount)

    EUR 33 million

    Environmental aspects

    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.


    Signed - 21/12/2020


    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 Telecom