During a one-hour meeting on Thursday afternoon at the Presidential Palace, President Nikos Christodoulides and a large delegation from the Cyprus Banks Association discussed key topics including the positive trajectory of the Cypriot economy, the successful issuance of a 7-year bond, strategic dialogue with the US, digital transformation, and the green transition.

According to sources, this was the third meeting between President Christodoulides and the Banks Association since he assumed office. It was highlighted that the Cypriot economy is performing very well, as evidenced by recent upgrades from international credit rating agencies, which also noted the improving image of banks.

The meeting also highlighted the successful issuance of a €1 billion 7-year bond by the Republic of Cyprus on Wednesday, June 19, with demand reaching €9.6 billion.

Furthermore, the discussion covered the ongoing issues of digital transformation, hampered by public sector bureaucracy, and the green transition, with the daily impacts of climate change, such as high summer temperatures and frequent wildfires, becoming more apparent.

Additionally, the meeting underscored the significant agreement between Cyprus and the US to initiate a strategic dialogue, with Cyprus being the only non-NATO member country to sign this agreement, which is expected to pave the way for direct US investments.

The meeting was chaired by Aristidis Bourakis, CEO of AstroBank Ltd. and the new President of the Banks Association.