In 2019, the European Investment Bank (EIB) allocated €230 million for new investments in Cyprus, which is 1.04% of GDP. In co-operation with Cypriot banks, the EIB supported investments in business and new projects in the field of renewable energy and energy efficiency. The EIB is also planning to support projects related to urban development, waste, transport, and health, which also receive EU funds. Since agreeing on the first steps in co-operation 37 years ago, the EIB has allocated more than €4 billion for investments in Cyprus. Over the past six years following the financial crisis, the EIB has signed agreements worth more than €1.7 billion for new investments in education, energy, shipping, water, and the private sector.Bank of Cyprus and Hellenic Bank to sell loans worth €4 billion.

The Bank of Cyprus and Hellenic Bank will sell loans, worth €4 billion in total, according to the Governor of the Central Bank of Cyprus (CBC), Constantinos Herodotou. Herodotou noted that non-performing loans (NPLs) have not changed much during the last few months and called on the Cypriot banks to step up their efforts to further reduce them. The Governor said that Cypriot banks may have reduced their NPS by €19 billion since their peak in December 2014 but ‘there is still work to be done,’ as Cyprus’ NPL ratio stands at 30% compared to the Eurozone average of 3%.