President of the European Investment Bank Philippe Maystadt has presented to the Board of Governors the Bank`s activities in 2010, during the Board’s Annual General Meeting, which took place in Luxembourg on Tuesday. Cyprus Finance Minister Charilaos Stavrakis participated in the Meeting as the Governor of the EIB for Cyprus.

According to an official announcement, total EIB lending in 2010 reached 72 billion euro (compared to 79 billion in 2009) of which 63 billion euro represent aid to the EU member states and 9 billion were allocated to EU partner states.

In 2010, the EIB lending to Cyprus reached 460 million euro, and it mainly financed projects in the field of energy (43%), ‘Green Development’ (39%), small and medium enterprises (11%) and transport (7%).