RCB Bank extends its cooperation with the EIB in supporting small & medium sized enterprises

14 October, 2016

RCB Bank is pleased to announce that it has extended its cooperation with the European Investment Bank (EIB) and the government of Cyprus to achieve viable growth for the Cyprus economy by supporting small and medium sized Cypriot enterprises.

Further to the current successful cooperation between RCB and the EIB which regarded a 20 million Euros funding facility allocated for the financing of new investments of Cypriot SMEs at beneficial lending rates, RCB Bank Ltd will now be able to additionally channel 40 million Euros to the Cypriot economy. These 40 million Euros translate to competitive lending solutions for new investments, characterized by a longer repayment period, beneficial lending rates and favorable terms to SMEs, which are the backbone of the Cypriot economy.

Saluting the extension of the Bank’s cooperation with the European Investment Bank, RCB’s CEO Dr. Kirill Zimarin noted: "We sincerely thank the EIB for the extension of our cooperation and remain committed in providing SMEs and Cypriot enterprises with the much needed and competitive financing they require in order to facilitate their investment plans in Cyprus. Cooperations like these are crucial in helping the real economy of Cyprus to continue growing and thus reinstate our country to the position it deserves".