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    Reference: 20240371
    Release date: 22 October 2024

    Promoter – Financial Intermediary

    MINISTRY OF TRANSPORT, COMMUNICATIONS AND WORKS - REPUBLIC OF CYPRUS

    Location

    Description

    The framework loan will support a multi-year road infrastructure programme implemented by the Public Works Department of the Ministry of Transport, Communication and Works in the Republic of Cyprus.

    Objectives

    The aim is to support investments for the construction and rehabilitation of roads, motorways, including core trans-European networks (TEN-T) as well as related infrastructure to implement sustainable urban mobility plans, transport safety and resilience/climate adaptation measures. The project is expected to significantly improve accessibility, efficiency and road safety.

    Sector(s)

    Proposed EIB finance (Approximate amount)

    EUR 200 million

    Total cost (Approximate amount)

    EUR 400 million

    Environmental aspects

    The promoter's environmental management capacity to apply the relevant EU Directives and the requirements of social standards will be verified during appraisal. Where and if applicable, this includes the requirements of the Environmental Impact Assessment (EIA) Directive 2011/92/EU amended by 2014/52/EU, Strategic Environmental Assessment (SEA) Directive 2001/42/EC, Habitats Directive 92/43/EEC and Birds Directive 2009/147/EC.

    Procurement

    The promoter shall ensure that contracts for implementation of the project have been/will be tendered in accordance with the applicable EU procurement legislation, for contracts above the threshold: Directive 2014/23/EU / 2014/24/EU as well as Directive 92/13/EEC or Directive 89/665/EEC as interpreted by the Court of Justice of the EU, with publication of tender notices in the EU Official Journal, as and where required.

    Status

    Under appraisal - 13/06/2024

    Milestone
    Under appraisal

    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).

    Related tags

    Cyprus Water, sewerage Transport