The European Investment Bank (EIB) is giving Cyprus another €100 million to fix and upgrade roads across the island, covering half the costs to make travel safer and easier. This is the second chunk of a €200 million package the EIB approved for Cypriot roads. The first €100 million was signed in December 2024, and all the work should wrap up by 2029.
The money backs a multi-year plan by Cyprus’s transport ministry. Workers will upgrade highways, fix rural roads, build new bridges and tunnels, and add bike lanes and walking paths. They’ll also improve traffic lights and drainage systems to help connect cities and rural areas while making roads more climate-ready.
EIB Vice-President Kyriacos Kakouris said good roads are key for bringing people together and growing the economy. “This project will make a real difference in daily life—better mobility, safer roads, and stronger climate defenses,” he said. Cyprus Finance Minister Makis Keravnos praised the partnership, saying it lets the country tackle essential projects that improve safety, connections, and green transport options.
Eleftherios Eleftheriou from Public Works said the ministry is pushing transport projects to help isolated areas, boost road safety, fight climate problems, and encourage cleaner travel. The work also aims to bring the island’s communities and economy closer together.
With this new funding, the EIB has now put more than €670 million into Cyprus roads since 1998. The bank’s last major road loan was €112 million in 2021 for projects in Nicosia, Limassol, Paphos, and near the Vasilikos Energy Centre.
