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European Investment Fund to finance Cypriot SMEs

Xinhua, December 23, 2016 Adjust font size:

The European Investment Fund (EIF) inked an agreement with a Cypriot bank Friday to provide loans for Cypriot small and medium-sized enterprises (SMEs).

The agreement, signed in Cyprus, amounted to 10 million euros and fell in the context of the European Fund for Strategic Investments, a basic pillar of the Investment Plan for Europe.

Under the agreement, the Cypriot lender RCB Bank will provide attractive loans to innovative Cypriot SMEs and mid-caps over the next two years.

Following the signature, the European Fund for Strategic Investments, the heart of the Investment Plan for Europe, is now active in all EU 28 member states, the European Commission said in a statement. Endit