Vice President of the European Investment Bank (EIB) Kyriacos Kakouris will pay Cyprus an official visit on Friday, during which two loan agreements will be signed. 

A press release by the Ministry of Finance says that a EIB delegation headed by its Vice President will pay Cyprus an official visit on the 20th of September. The purpose of the visit is the signing of two loan agreements. 

The first loan agreement between the Republic of Cyprus and the European Investment Bank will be of the amount of €108 million for the implementation of a number of projects of the Cyprus University of Technology (CUT) in Limassol. These include the construction of student residences and sports infrastructure, the upgrading of various academic and research facilities, the construction of a photovoltaic park and the implementation of various digitization projects.

The second loan agreement will be between the Municipality of Pafos and the European Investment Bank in the amount of €17 million for the construction of CUT student residences and sports facilities in Pafos.