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Cyprus News Agency: News in English, 09-10-19

Cyprus News Agency: News in English Directory - Previous Article - Next Article

From: The Cyprus News Agency at <>


  • [02] FM - FRANCE - ITALY
  • [03] EIB - CYPRUS CCB


    Greece and Cyprus decided on Monday to continue their cooperation to promote a solution to the Cyprus problem and to utilise the milestone of December, when Turkey`s EU accession course will be assessed, President of the Republic of Cyprus Demetris Christofias and Greek Prime Minister George Papandreou said, after official talks in Nicosia.

    Papandreou said his priority was to support the tireless efforts of President Christofias for a just and viable solution of the Cyprus problem, in the framework of UN decisions and in full harmonisation with the acquis communautaire.

    He added that both Greece and Cyprus believe that Turkey`s EU course would be to their mutual benefit, and noted that he was not in favour of a special association of Turkey with the EU but supported Turkey`s right to become a full member, as long as the country fulfills its obligations towards the EU and contributes towards a Cyprus settlement.

    Papandreou said it was necessary to utilise the European framework in the most effective way, adding that the European Council of December was important because Turkey`s EU course would be objectively assessed.

    He assured that efforts would continue, with the aim of peace and cooperation among the peoples of the region, adding that the solution of the Cyprus problem should be just and viable.

    The Greek Prime Minister noted that during his first official meeting with President Christofias they agreed to continue their close cooperation on the Cyprus problem, intensively until December and afterwards.

    President Christofias congratulated Papandreou on assuming his new duties as Prime Minister, and wished him every success. He also expressed gratitude because Cyprus and its political problem would be a personal priority of the new Prime Minister and his government. President Christofias said he had cooperated with Papandreou in the past, in trying times, adding that this cooperation would continue.

    He said Greece was Cyprus` main supporter in the struggle for a solution of the island`s political problem, adding that they discussed the latest developments in the Cyprus problem and relations between Turkey and the EU, and that they totally agreed on these issues.

    President Christofias said they furthermore discussed various regional and international problems, in which they also determined shared views, and assured that they would continue to work together.

    He furthermore referred to the Cyprus problem and the efforts and will of the Greek Cypriot side to reach a solution of a bizonal bicommunal federation, with political equality, based on UN resolutions and international and European law.

    President Christofias assured that he would continue to work for a solution with the same determination, adding that he expected a similar stance on behalf of the Turkish Cypriot side.

    He added that Turkey has to show good will and cooperation, noting that to date Ankara has done nothing, neither in the direction of a solution nor in fulfilling its obligations towards the EU.

    President Christofias said Cyprus and Greece support Turkey`s European prospect but not unconditionally, and pointed out the need to utilise the December milestone. Cyprus, which joined the EU in 2004, has been divided since 1974, when Turkey invaded and occupied its northern third. President Christofias and Turkish Cypriot leader Mehmet Ali Talat have been engaged in UN-led direct negotiations since September 2008, with an aim to reunite the island.

    [02] FM - FRANCE - ITALY

    Minister of Foreign Affairs Markos Kyprianou will visit France and Italy on October 21 - 22.

    According to an official press release, in Paris, the Foreign Minister will attend a working lunch with his French counterpart, Bernard Kouchner, while in Rome he will hold talks with the Italian Foreign Minister, Franco Frattini.

    The Foreign Minister will return to Cyprus Thursday night.

    [03] EIB - CYPRUS CCB

    The European Investment Bank (EIB) and Cyprus Central Cooperative Bank will sign early 2010 a loan agreement aiming to offer cheap and long term loans to the islands small and medium size enterprises (SMEs), as part of a broader policy to boost liquidity of European SMEs. Senior Communications Officer of EIB Helen Kavvadia in statements to Greek and Turkish Cypriot journalists, who paid a visit to Brussels last week at the invitation of the European Commission, has said that the preparatory work is already under way. The European Investment Bank (EIB) has already signed 228 million euros loan agreements with Cyprus three biggest commercial banks, Bank of Cyprus (BOC), Marfin Popular Bank (MPB) and Hellenic Bank (HB), which will match this amount with equal funding from their own resources.

    Cooperation with Central Cooperative Bank will be in the form of the agreement already in force with the three commercial banks, Kavvadia said. The effort regarding the expansion of the cooperation with EIB to cover the Central Cooperative Bank began earlier this year. The latter had to fulfill all the terms and conditions set by the EIB to be given access to cheap EIB loaning in the framework of a similar plan. Kavvadia said that EIB lending in Cyprus started in 1981 but it increased in volume after the commencement of accession negotiations with the EU in 1996. Total EIB financing in Cyprus in this period amounted to 645 million euros, while some 2 billion euros were given since 1981. In 2010, the amount to be offered will range between 250 and 350 million euros. Forty nine per cent of total EIB financing in Cyprus, 314 million euros, was for a cleaner environment and an enhanced quality of life. Flagship projects for urban environment infrastructure, notably water and wastewater collection networks have been financed in almost all major cities, including Nicosia, Limassol, Larnaca and Paphos.

    Twenty seven per cent of total EIB lending in Cyprus, some 177 million euros, in this period was for priority combined infrastructure investments, such as the development of transport, urban and public service information technology infrastructure. Another 20% of total EIB financing in Cyprus was in the energy sector, with the construction of new combined-cycle and internal combustion power plants in Vassiliko and Dekeleia, with the amount given reaching 130 million euros. The amount of 32 million went on financing projects in synergy with Cohesion and Structural Funds.The Bank, Kavvadia noted, works closely with the Cypriot authorities and the European Commission on the programming and implementation of projects supported by the Structural and Cohesion Funds in Cyprus, in order to maximise the impact of its action.

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