Press Releases

The President of the Republic received today, at the Presidential Palace, the Governor of the Council of Europe Development Bank Mr Rolf Wenzel, in the presence of the Minister of Finance Mr Harris Georgiades.

After the meeting Mr Wenzel told reporters, among other things, that he informed the President of the Republic about the ongoing support of the Bank to the economy of Cyprus, adding that “we are ready to do more in the coming weeks and months.”

He said that the President of the Republic briefed him on the efforts for the reunification of Cyprus and expressed his views on the prospects of continuing the negotiations on the Cyprus problem. 

Mr Wenzel also said that they discussed, among other issues, the economic situation in Europe and matters relating to the upcoming European Summit at the end of June.

He added that he congratulated the President and the Minister of Finance about the strong recovery of the economy of Cyprus, due also to the strong inflow of tourists, as well as for the strengthening of the banking sector. He noted, however, that more needs to be done in order to reduce non- performing loans, pointing out that the Government is on a good way in tackling this issue.

Replying to a question he said that the Bank is looking to assume projects relating to the infrastructure sector, such as in water supply, and the education sector and is in discussions with several Ministries of Cyprus.

(RM/AH)