A green light was given during the meeting between the European Commission, Greece, Cyprus, and the European Investment Bank, which was just completed in Nicosia, for ADMIE to officially submit a funding request for the GSI to the EIB.

During the meeting, the strategic importance of the project was highlighted, particularly in the current geopolitical context, and the joint letter by Ministers Papastavrou and Damianou regarding the financing of the project, following due diligence, was assessed as a positive development.

It is noted that the study to be carried out by the EIB will clarify the necessary financial and technical parameters of the interconnection and will open the way for potential investor participation.

The meeting on the Greece–Cyprus electricity interconnection (GSI) was attended by Minister Mr. Papastavrou and Deputy Minister Mr. Tsafos, the Cypriot Minister of Energy Mr. Michalis Damianou, the Deputy Minister to the President Ms. Irene Piki, the EU Commissioner for Energy Mr. Dan Jørgensen, the Director-General for Energy Ditte Juul Jørgensen, the Chairman and CEO of ADMIE (project promoter), Mr. Manos Manousakis, and the Vice-President of the EIB, Mr. Ioannis Tsakiris.