Includes how major projects are financed and gives examples where relevant. Explains activities of the multilateral development banks in and other aid-funded projects where procurement is open to U.S. bidders.
Last Published: 7/30/2019

Republic of Cyprus:

Cyprus’ sovereign credit rating has been improving since 2013 but remains at low investment grade (BBB- by both S&P and Fitch) or just below investment grade (Ba2 by Moody’s).  A list of the current ratings is available from the Ministry of Finance.

Obtaining credit from local banks has become easier since 2013, although still constrained by the general trend towards deleveraging and stricter lending criteria following recapitalization of the banking sector.  Banks in Cyprus employ all modern methods of cross-border financing, including letters of credit, bills for collection, documentary credit, and cash against documents.

U.S. Commercial Service Liaison Offices at the Multilateral Development Banks (World Bank)
The Commercial Service maintains Commercial Liaison Offices in each of the main Multilateral Development Banks, including the World Bank.  These institutions lend billions of dollars in developing countries on projects aimed at accelerating economic growth and social development by reducing poverty and inequality, improving health and education, and advancing infrastructure development.  The Commercial Liaison Offices help businesses that create U.S. jobs learn how to get involved in bank-funded projects and how to connect to other parts of the International Trade Administration, including the U.S. Field; the overseas network of Commercial Service offices; and, in Washington, desk officers, sectoral experts and the Advocacy Center.
 

Web Resources


Area Administered by Turkish Cypriots:

Domestic banks and Turkish Cypriot businesses have limited access to international capital.

Prepared by our U.S. Embassies abroad. With its network of 108 offices across the United States and in more than 75 countries, the U.S. Commercial Service of the U.S. Department of Commerce utilizes its global presence and international marketing expertise to help U.S. companies sell their products and services worldwide. Locate the U.S. Commercial Service trade specialist in the U.S. nearest you by visiting http://export.gov/usoffices.