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International Financial Institutions

Successful hosting of the 52nd Annual Joint Meeting of the Council of Europe Development Bank (CEB)

On Friday 16 June, 2017 Cyprus hosted, with great success, in Nicosia the 52nd Annual Joint Meeting of the Council of Europe Development Bank (CEB), an event which brought together the members of the Bank’s Governing Board, Administrative Council and senior management.

The President of the Republic in his opening address referred to the close cooperation and the intense activity between the CEB and Cyprus which comes to prove, in the most concrete manner, the support the Bank has provided towards the economic growth of Cyprus whilst noting, at the same time, the primordial role that CEB may play in the support of all efforts related to post reunification infrastructure development and rehabilitation, through the funding of infrastructure and development projects in a reunified Cyprus.

The Governor of the CEB, Mr. Rolf Wenzel expressed the Bank's readiness to support Cyprus in the event of reunification stressing that the Bank monitors and will continue to monitor the ongoing talks for the reunification of the island.

In the afternoon of June 16, 2017 the CEB’s 303rd Administrative Council meeting and 217th Governing Board meeting were held in a constructive climate while on Saturday morning June 17, 2017, at the University of Cyprus, the signing ceremony was held for the release of the first installment of a 16-million-euro loan from CEB for the funding of a project regarding the second phase of the University of Cyprus campus (panepistimioupoli). The agreement was signed on behalf of the Republic of Cyprus, by the Minister of Finance Mr. Harris Georgiades, on behalf of the Governor of the CEB, Mr. Rolf Wenzel, and on behalf of the University of Cyprus by the Rector, Mr. Constantinos Christofides.

After the signing ceremony, CEB officials were toured at the facilities of the University of Cyprus and went through the under construction buildings of Phase II of the project financed by the CEB and afterwards they visited the third primary school in Ypsonas, Limassol which was also financed by the Bank.