EIB okays first infrastructure project in Cyprus under the EFSI

EIB okays first infrastructure project in Cyprus under the EFSI
An announcement by the European Commission in Brussels speaks of a European Investment Bank (EIB) agreement to the first infrastructure project in Cyprus under the European Fund for Strategic Investments (EFSI), "the heart of the Investment Plan for Europe", as CNA writes.

The announcement reads that, the European Investment Bank will provide €35 million to the Cyprus Organisation for Storage and Management of Oil Stocks (COSMOS) to build a 210,000 tonne privately-owned storage facility.

The above project is a Juncker Plan-backed one. Its aim is to enhance the Cypriot energy efficiency and improve energy security in the country "by increasing the amount of reserve oil stocks held" in Cyprus.../IBNA

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