EBRD Plans Bank of Cyprus Investment

The EBRD First Vice President Phil Bennett described, "This is our first investment in Cyprus and we are pleased that it allows us to apply our financial sector experience for the benefit of the country", according to Parikiaki.

Bennett added, "Supporting the restructuring and recovery of Bank of Cyprus is critical for the economy as a whole. As an active shareholder one of our priorities will be to work towards improvements in corporate governance. This successful capital raise is a positive signal to the markets, providing investors with additional confidence".

During the EBRD's 2014 Annual Meeting in Warsaw, the financial institution decided to begin Cypriot investments. According to the press release, this is the EBRD's initial investment in Cyprus and will strive to boost its financial capacities.

(Source: Parikiaki)