EBRD shareholders agree on investments for Cyprus for limited period

The European Bank for Reconstruction and Development said on Thursday its shareholders had voted to allow Cyprus to receive investments from it for a limited period.

The EBRD, holding its annual meeting in Warsaw, voted to provide up to 700 million euros of financing to Cyprus over the next six years.

It said in a statement that investments were “most likely for a limited period, to help the country overcome transition challenges that have emerged during its severe economic crisis.”