EUR 100 mln from EIB for Cyprus knowledge economy

The European Investment Bank is providing a further loan of EUR 100 mln in support of school facilities throughout Cyprus. This follows a EUR 200 mln loan granted by the EIB in 2003 for the improvement of the education infrastructure.
EIB Vice-President Plutarchos Sakellaris signed the agreement with Finance Minister Charilaos Stavrakis, heading a top-level Cypriot delegation visiting the EIB headquarters in Luxembourg.
“With this 100 mln euro operation, the EIB will contribute to the financing of the construction of 31 new kindergartens and the construction and modernisation of more than 100 primary and secondary schools”, Stavrakis said at the signing ceremony.
The investment includes optimisation of school buildings through state-of-the-art anti-seismic specifications; environmental friendly and energy efficiency provisions, including solar panels; improving accessibility to all school buildings for young people with restricted mobility; and the provisions for children with special education needs.