EIF Secretary General in Cyprus to meet with heads of financial institutions and government

On the occasion of a visit to Nicosia by the European Investment Fund (EIF) Secretary General, Mr Robert Wagener, Cypriot banks and other financial organisations had the opportunity to attend presentations on the EIF's activity, notably in light of Cyprus's forthcoming accession to the EU. In his capacity as former Chief Counsel at the European Investment Bank (responsible for, among other countries, Cyprus), Mr Wagener already has a good deal of experience working in the area.

During his presentations, the Secretary General outlined all of the financial instruments managed by the EIF, including SME Guarantees and Venture Capital, which, due to the imminent accession of Cyprus to the European Union, are available for the Cypriot financial sector. These financial instruments, which are always implemented on a commercial basis, will contribute to easing the transition process in the context of accession.

As part of the visit, Mr Wagener also attended meetings with Cyprus's Minister of Finance, Mr Markos Kyprianou, and the Permanent Secretary of the Ministry of Commerce, Mr Soteris Soteriou, where he presented the EIF's mission and role within European Community policy.