ECONOMY

Cyprus Power gets 130-mln-euro loan from EIB

The Electricity Authority of Cyprus has obtained a 130-million-euro loan from the European Investment Bank to help the state-owned power producer expand its production capacity.

The agreement signed in Nicosia on Thursday for a new unit at the Vasilikos power plant came ?in good time to cater to the urgent need for energy production in the country,? EIB Vice President Plutarchos Sakellaris said in a statement e-mailed by the bank.

[Bloomberg]