European Investment Bank (EIB) President Werner Hoyer will pay a visit to Cyprus on December 23, a press release from the Ministry of Finance said on Wednesday.

Hoyer will have a meeting with Finance Minister Harris Georgiades to discuss cooperation between Cyprus and the EIB and the Bank`s activities in the context of joint efforts to support the economy of Cyprus.

On December 23, the European Investment Fund and RCB bank will sign a loan agreement amounting to €10 million, the first agreement to be signed in Cyprus in the context of the European Fund for Strategic Investments, a basic pillar of the Investment Plan for Europe.

Hoyer and Georgiades will sign a Loan and Guarantee Agreement of €40 million with RCB Bank, to fund SMEs and mid-cap companies in Cyprus.