The Cabinet will approve on Wednesday the signing of a loan agreement of 108 million euros from the European Investment Bank (EIB) for the financing of the construction of student residences in Limassol and Paphos, the President of the Republic, Nikos Christodoulides said. The residences to be built with the EIB loan, are meant for the students of the Cyprus University of Technology, based in Limassol, with departments operating in Paphos as well. In his remarks at the opening of the session of the Council of Ministers on Wednesday morning, the President said that this marks an "important intervention in relation to our housing policy." Source: Cyprus News Agency