EIB Expands Support to Cyprus with €55m for Research, Growth and Resilience

The European Investment Bank (EIB) has reinforced its long-standing partnership with Cyprus by signing two new financing agreements worth a combined €55 million, boosting investments in healthcare research, education, digitalisation, climate action, and green growth. The agreements confirm the Bank’s commitment to investing in people, communities, and Cyprus’s future competitiveness.

Strengthening Medical Research at the Cyprus Institute of Neurology and Genetics

The first agreement provides an additional €5 million to the Cyprus Institute of Neurology and Genetics (CING), raising total EIB financing for the institute to €31 million. The funding will support:

• Construction of CING’s new state-of-the-art facilities.

• Refurbishment of existing premises.

• Purchase of advanced medical and laboratory equipment, including genomics and proteomics tools, microscopes, bioinformatics systems, and a biobank.

• Support for research and development activities, expanding CING’s project portfolio.

• Postgraduate education and training, strengthening human capital in health sciences.

The investments will reinforce CING’s status as a regional and international centre of excellence, enhancing its capacity to attract global research funding while improving diagnosis and treatment of patients with rare, neurological, and genetic diseases.

Vice-President Kyriacos Kakouris underlined the significance of this support: “Today’s agreements demonstrate once again the EIB’s strong partnership with Cyprus. In particular, I would like to highlight our valuable support to CING, for improving and upgrading its medical research and healthcare that will benefit patients with sensitive neurological and genetic medical needs. CING’s new premises are expected to be ready before the end of the year.”

Backing Cyprus’s National Development Programme: THALIA 2021–2027

The second agreement is a €50 million loan to co-finance Cyprus’s contribution to the EU Operational Programme THALIA 2021–2027, the country’s main development programme with a total budget of nearly €1.5 billion. The EIB has already disbursed €180 million out of an approved €369 million for this programme.

THALIA focuses on promoting smart, green, and inclusive growth, with investments in:

• Energy and water efficiency upgrades in municipalities.

• Modernisation of education and training facilities.

• Expansion of digital public services to improve accessibility and governance.

• Environmental sustainability and climate resilience projects, helping Cyprus adapt to climate challenges.

These investments will help drive the country’s digital and green transition, reduce regional disparities, and strengthen social cohesion.

A Milestone in Cyprus–EIB Cooperation

Finance Minister of Cyprus hailed the new agreements as another step in the long-standing collaboration with the EIB: “Through the EIB’s support for the THALIA 2021–2027 Programme, green, innovative, and socially inclusive development is being promoted, enhancing competitiveness, social cohesion, and the quality of life for citizens. At the same time, the additional financing for the Cyprus Institute of Neurology and Genetics will support the completion of new facilities, the renovation of existing spaces, and the strengthening of research capacities, reinforcing the Institute’s role as a centre of excellence in Cyprus and internationally.”

Building on Decades of Support

The agreements reflect the EIB’s enduring engagement in Cyprus, supporting projects across healthcare, education, research, innovation, infrastructure, and climate action. By combining targeted investments in cutting-edge research with systemic reforms under the THALIA programme, the EIB is contributing to both immediate improvements in citizens’ quality of life and long-term national resilience.

As Vice-President Kakouris emphasised, these initiatives are about more than financing: they represent a commitment to making Cyprus more sustainable, competitive, and inclusive in the face of global challenges.