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Cyprus News Agency: News in English (AM), 98-11-27

Cyprus News Agency: News in English Directory - Previous Article - Next Article

From: The Cyprus News Agency at <>


  • [01] EU - Cyprus - EIB
  • [02] Bank robbery
  • [03] Cyprus - EU - Control of Industrial pollution project

  • 1120:CYPPRESS:01

    [01] EU - Cyprus - EIB

    Nicosia, Nov 27 (CNA) -- Cyprus signed yesterday the contracts for a 50- million-ECU loan (29.23 m. Cyprus pounds) by the European Investment Bank, an arm of the European Union (EU).

    The documents were signed in Luxembourg on behalf of Cyprus by its Permanent Representative to the EU, Ambassador Nicos Agathocleous, and the Vice President of the European Investment Bank (EIB), Panagiotis Yenimatas.

    The money will go to the Cyprus Development Bank (CDB). It is the fifth loan to the CDB after successful provision of four loans totalling 77 million ECUs between 1991-1997.

    According to the EIB, the money will be used to finance projects by small and medium sized businesses in the industrial, agro-industrial tourism and service sectors.

    Speaking during the ceremony, Yenimatas said this is the first loan which is given to Cyprus within the framework of the "Pre-accession Financial Protocol" which was set up with a sole aim to support investments in the 11 EU candidate member states.

    He said that since 1991 the EIB has been providing loans of up to 127 m. ECUs to the Cyprus Development Bank which were used in 155 different investment schemes for the productive fields of the Cyprus economy.

    Ambassador Agathocleous thanked the EIB representatives for the loan, noting the long-term cooperation of Cyprus with the Bank.

    Cyprus, which applied for full EU membership in July 1990, opened accession negotiations with the EU last March.

    CNA EC/GP/1998

    [02] Bank robbery

    Larnaca, Nov 27 (CNA) -- A Bank of Cyprus branch office was robbed today in bright daylight by two young men who carried away with them some 25.000 Cyprus pounds (some 50.000 US dollars).

    According to a customer who was at the branch office at the time, the two were wearing green balaclavas, training suits and red jackets and pointing a gun at the cashier demanded all the money in the cash and then left on a motor-bike.

    The Police have launched a manhunt to track down the two bank robbers.

    CNA MAN/MCH/GP/1998

    [03] Cyprus - EU - Control of Industrial pollution project

    Nicosia, Nov 27 (CNA) -- Cyprus said a project to control industrial pollution and chemical substances will assist in streamlining its environmental legislation and policies with those of the European Union (EU).

    The statement was made by Minister of Labour and Social Insurance, Andreas Moushoutas after the signing of a contract entitled "Integrated Control of Industrial Pollution and Chemical Substances" with the Head of Delegation of the European Commission to Cyprus, Donato Chiarini.

    Moushoutas expressed his gratitude to the European Commission for approving the project, which is a joint proposal of the Ministry of Labour and Social Insurance and the National Technical University of Athens and for funding the project with 411.307 ECU, which represents more than 70 per cent of the total cost.

    The signing of the contract, said Moushouttas, is "initiating in the most official way the project on Integrated Control of Industrial Pollution and Chemical Substances in Cyprus."

    He assured Chiarini "that the protection of the environment and specifically the development of an integrated system for control of industrial pollution, according to the targets of the EU... is the main priority of the government of Cyprus."

    "I have no doubt that the project... will result in the development of an appropriate national system and will enhance and sustain the national capabilities to combat pollution and effectively protect our common environment," he said.

    Furthermore Moushouttas said the project "will assist in the streamlining of our environmental legislation and policies with those of the EU in the context of Cyprus' efforts to harmonise its legislation practices with the EU of which we look forward to becoming a full member."

    On his part, Chiarini said "it is in fact a shared priority the concern for protecting the environment".

    He reminded that in the latest report published recently by the Commission one of the recommendations which were made for Cyprus was that in the framework of the administration there is some work to be done in this field.

    "Therefore, the signature of this convention today is already an answer to the concern", adding that "with shared resources... can protect the environment and establish the legislative framework in order to preserve the beauty of this island which is a small garden".

    In a press release, the Delegation of the European Commission to Cyprus said the project is one of 11 proposals submitted by Cyprus within the framework of the EU's Environmental programme LIFE for 1998.

    The main objective is to establish an administrative unit within the ministry which will be responsible for the development and implementation of an integrated management and control system concerning chemical substances, industrial wastewater and volatile organic compounds (VOCs) emissions.

    A second project entitled "Special Areas of Conservation" was also approved by the Commission under LIFE 98, the statement added.

    CNA EC/GP/1998
    Cyprus News Agency: News in English Directory - Previous Article - Next Article
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