Cypriot COSMOS gets EIB loan for privately-owned oil storage terminal construction

Cypriot COSMOS gets EIB loan for privately-owned oil storage terminal construction
An official announcement by the governmental Press and Information Office (PIO) of Cyprus, the Cyprus Organisation for Storage and Management of Oil Stocks (COSMOS) agreed with the European Investment Bank (EIB) on a €35 million financing contract that will fund the construction of a privately-owned oil storage terminal.

The PIO announcement reads explains that the agreement was concluded after a long and multidimensional evaluation process by the EIB, both of the supported project and COSMOS, as CNA reports.

More specifically, the announcement reads: "EIB is one of the strongest, more prestigious and most reputable international financial institutions and the financing agreement gives significant validation to the construction of a privately-owned terminal and to the broader operation framework of COSMOS".../IBNA

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