Project Finance 2023

1 Overview

1.1 What are the main trends/significant developments in the project finance market in your jurisdiction?

The majority of lenders in Cyprus continue to be credit and finance institutions for locally-based projects, whilst international banks commonly finance larger projects and/or international projects where the underlying assets are based abroad

The financial market has also recently flourished, as many investment funds have relocated or established their base in Cyprus, commonly falling under the alternative investment funds category. The local regulator, the Cyprus Securities and Exchange Commission (CySEC), has provided a reliable and modern framework for such funds to operate, although financing is still largely managed by banks and credit institutions.