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Bank of Cyprus Invests €2 Million In 33East Investment Fund

by THEFUTURE.TEAM

July 26, 2024

The Bank of Cyprus has taken a significant step in supporting innovation and technology by becoming a founding financier in the 33East Investment Fund with a €2 million investment. This initiative is part of the Cyprus Capital Financing Fund, promoted by the Ministry of Finance in collaboration with the European Investment Bank (EIB). The Fund aims to bridge the financial gap in the Cypriot market, primarily investing in start-ups and innovative companies.

Strategic Move for Innovation

The creation of the Cyprus Capital Financing Fund marks a pivotal moment for the nation’s economic landscape. The Ministry of Finance initiated this project to foster growth in sectors that traditionally face funding challenges. The Fund, with a projected size of €37.5 million, will benefit from a substantial state contribution of €27 million, financed mainly through the National Recovery and Resilience Plan, while the remaining funds will come from private investments.

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Collaboration with the European Investment Bank

The European Investment Bank (EIB) plays a crucial role in overseeing the Fund’s operation, ensuring that investments are strategically directed towards high-potential ventures. Through a competitive selection process, 33East was chosen by the EIB to manage the Fund, highlighting the confidence placed in their expertise and vision.

Bank of Cyprus’s Commitment

The participation of the Bank of Cyprus in this fund exemplifies its commitment to fostering innovation and supporting the diversification of Cyprus’s economic model. Eliza Livadiotou, Executive Director of Finance at the Bank of Cyprus, expressed the bank’s enthusiasm for this initiative, highlighting its role in promoting sustainable development and economic diversification.

Supporting Innovation and Start-ups

The investment by the Bank of Cyprus is expected to catalyse growth in the start-up ecosystem, providing much-needed capital to innovative enterprises. Demetrios Zoppos, co-founder of 33East, welcomed the bank’s involvement, recognising it as a significant boost for technology and innovation in Cyprus.

Government and Industry Support

George Pantelis, Permanent Secretary of the Ministry of Finance, emphasised the importance of the Fund and the role of the Bank of Cyprus in achieving a modern, knowledge-based economy. The collaboration between the public sector and financial institutions like the Bank of Cyprus is crucial for realising the vision of a dynamic and resilient economic environment in Cyprus.

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EU Presidency Priorities: Driving Competitiveness And Strategic Autonomy

by THEFUTURE.TEAM

December 23, 2025

Strong Endorsement From Cyprus Chamber Of Commerce And Industry

The Cyprus Chamber of Commerce and Industry (Cypriot EU Presidency) has expressed its full support for the recently unveiled priorities of the EU Presidency, as outlined by Nikos Christodoulidis. The chamber commended the framework as a realistic and cohesive strategy designed to bolster the European economy and enhance the EU’s competitive global stance.

Enhancing European Competitiveness And Market Integration

Central to the outlined priorities is the aim to fortify the competitiveness of the European economy. The strategy emphasizes deepening the single market, providing robust support to businesses—especially small and medium-sized enterprises—attracting investments, and streamlining administrative and regulatory burdens. This approach directly addresses the critical needs of both the European and Cypriot business communities.

A Dual Focus On Green And Digital Transition

The EU Presidency is also setting its sights on a balanced green and digital transition. The initiative seeks to marry sustainability and innovation with ongoing competitiveness and the preservation of Europe’s productive base. By integrating technological advancement with economic growth, the agenda positions the EU to address future challenges and leverage emerging opportunities.

Geopolitical Stability And Strategic Partnerships

On the geopolitical front, the outlined priorities affirm Cyprus’ role as a steadfast partner within the EU. The strategy underscores the importance of regional stability, enhanced international cooperation, and a forward-looking approach to EU enlargement—particularly with regard to the Western Balkans. These measures are aimed at crafting a stronger, more resilient, and strategically autonomous European Union.

Commitment To Tangible Economic And Social Benefits

The Cyprus Chamber of Commerce and Industry reaffirms its commitment to actively support the initiatives of the Cypriot EU Presidency. Through well-substantiated interventions and targeted initiatives, the chamber aims to promote entrepreneurship, drive European added value, and ensure tangible benefits for both the economy and society.

A Presidency Of Substance And Results

According to the Cyprus Chamber of Commerce and Industry, the current Cypriot EU Presidency represents a rare opportunity to achieve substantive outcomes, foster strategic collaborations, and drive a clear economic and developmental agenda. This vision aligns with the broader objective of positioning the EU as a dynamic global player.