The Church of Cyprus dispose of properties
Archbishop Chrysostomos
To address the dire economic situation that has come from the 2013 financial crisis, the Church of Cyprus will proceed with divestiture assets to eliminate its debts to banks. According to Archbishop Chrysostomos debt to banks amounts to one hundred million euros.
"We made agreements with the banks, and we are ready to give them some property to eliminate our debts, so we can move into large investments," he told CyBC Mr. Chrysostom.
The Cyprus Archbishop said the Church will invest in tourism and there are already several projects. He announced that in November will begin expanding hotel in Ayia Napa and to enable the Church to ensure the necessary liquidity sold a piece of land in the area.
For investing in Paphos Yeroskipou Archbishop said that there is interest from specific investor. However, he added that while it planned to begin investing by the end of the year, however legal problems emerged, and the investment will be delayed at least one year. About recalled that a year ago, Mr. Chrysostom had speaks Hungarian investor and investment of seven billion. Euro.
Archbishop Chrysostomos
To address the dire economic situation that has come from the 2013 financial crisis, the Church of Cyprus will proceed with divestiture assets to eliminate its debts to banks. According to Archbishop Chrysostomos debt to banks amounts to one hundred million euros.
"We made agreements with the banks, and we are ready to give them some property to eliminate our debts, so we can move into large investments," he told CyBC Mr. Chrysostom.
The Cyprus Archbishop said the Church will invest in tourism and there are already several projects. He announced that in November will begin expanding hotel in Ayia Napa and to enable the Church to ensure the necessary liquidity sold a piece of land in the area.
For investing in Paphos Yeroskipou Archbishop said that there is interest from specific investor. However, he added that while it planned to begin investing by the end of the year, however legal problems emerged, and the investment will be delayed at least one year. About recalled that a year ago, Mr. Chrysostom had speaks Hungarian investor and investment of seven billion. Euro.