Cyprus’s Minister of Finance, Mr. Makis Keravnos, welcomed EIB Board members in Lemesos, highlighting Cyprus-EIB partnership, economic resilience, and upcoming EU presidency priorities.
Welcome to Lemesos.
The Minister of Finance of the Republic of Cyprus, Mr. Makis Keravnos, welcomed the European Investment Bank (EIB) Board members to Cyprus. He expressed appreciation for their efforts and highlighted the strong collaboration between Cyprus and the EIB Group.
He extended special greetings to President Calvino and praised her achievements since assuming the EIB Presidency. The Minister emphasized Cyprus’s upcoming role as EU Council President in 2026 and outlined priorities such as strengthening the Capital Markets Union, advancing the Digital Euro, and revising the EU securitisation framework.
The Minister discussed Cyprus’s economic resilience, noting a growth rate of 3.2% in the first half of 2025, a fiscal surplus of 2.4% of GDP, and a debt-to-GDP ratio expected to fall to 57% by year-end. Unemployment was at 4.3%, and inflation was near zero.
He highlighted the longstanding partnership with the EIB, which has invested over €5.7 billion in Cyprus, supporting SMEs through initiatives like the Cyprus Entrepreneurship Fund and Cyprus Equity Fund. The EIB has also financed projects in infrastructure, energy, and innovation, with technical assistance exceeding €2.2 million over the past decade.
The visit to the Western Lemesos Biological Wastewater Treatment and Recycled Water Production Unit demonstrated the tangible results of cooperation, emphasizing the green transition and sustainable development.
The Minister outlined the EIB Group’s strategic priorities, including renewable energy, water management, digital transformation, and support for security and cohesion policy. He expressed confidence in shaping a sustainable and resilient Europe through close collaboration.
He paid tribute to outgoing Vice President Kyriakos Kakouris, recognizing his dedication and contributions to Cyprus-EIB partnership, and wished him success in future endeavors.
He concluded by inviting the visitors to enjoy Cyprus’s culture and hospitality, expressing hope for fruitful future collaboration.
