Instrument to assign management of Cyprus Equity Fund to EIB

Minister of Finance Constantinos Petrides signed on Thursday the financing agreement to assign the management of the Cyprus Equity Fund to the European Investment Bank (EIB).

A Finance Ministry Press release said the signing signals the successful conclusion of many months of negotiations between the Ministry and the EIB as well as the start of the process to select a Fund Manager which is expected to be completed by the end of the year.

The main objective of the Cyprus Equity Fund (CEF) will be to enhance access to alternative sources of finance for start-ups and innovative companies.