ESM disburses €1.5 billion to Cyprus

Press releases
ESM

Luxembourg – The European Stability Mechanism (ESM) disbursed today €1.5 billion to Cyprus for the recapitalisation of the cooperative banking sector. The amount was disbursed in a cashless operation involving one series of 18-month ESM floating rate notes (FRN). The loan will be repaid in two equal instalments of €750 million, due in 2029 and 2030, respectively.

Cyprus has now received a total of €4.5 billion in ESM financial assistance out of a total committed amount of approximately €9 billion.

There is an online information package on the Cyprus programme at: http://www.esm.europa.eu/assistance/cyprus/index.htm 

 Cédric Crelo

Cédric Crelo
Head of Communications and Chief Spokesperson
 
+352 260 962 205

Anabela Reis

Anabela Reis
Deputy Head of Communications and Deputy Chief Spokesperson
 
+352 260 962 551

George Matlock

George Matlock
Senior Financial Spokesperson
 
+352 260 962 232