Northern Cyprus News | Turkey Gives 4.25 billion Lira to Support TRNC

Thursday, April 14, 2022

Turkey’s Vice President Fuat Oktay and TRNC Prime Minister Faiz Sucuoglu have held a press conference on the latest financial protocol agreed between the two countries, Yeniduzen reported.

Vice President Octai said the new financial protocol between the two countries has different aspects.Institutional cooperation“:”In 2022, a total of TRY 4.25 billion was allocated to TRNC, primarily as a grant and some loans.“, He said.

Oktay outlines what the money is allotted to and lists it as follows: Contribution to the new Cheong Wa Dae, Nicosia’s 500-bed hospital, two mobile power plants, the Güzelyurt-Mesarya irrigation project, and the Organize industrial zone.

Oktay said.Our priorities focus on areas created in line with TRNC’s needs to create value-added jobs and food-oriented employment, create sustainable growth and enhance competitive production structures. was.“. He said the focus was on four main axes.

He listed them as follows:

1 Administration and finance

2 Economic and monetary policy

3 Social policy

4 Defense, security, justice

Citing an important goal of the signed financial protocol, Fuat Oktay said the budget deficit would be significantly eliminated.Income increase and cost reduction measures“.

The protocol text has not been published yet.

Elkan Airport

Vice President Oktay went on to say:

“”New Ercan Airport [construction] finished. Most production has been completed and construction of a dual roadway leading to the airport has begun. We continue to implement in stages using Customs, e-MEB, e-Tüzel, MAKS, Public Certification Center (KSM), and public management systems. This is actually a very serious project and will ease the lives of all Turkish Cypriots at TRNC.“.

Recent history of payments from Turkey

Yeniduzen points out that Turkey and the TRNC’s Financial Cooperation Protocol have not been fully complied with in recent years. The financial resources foreseen by the Protocol have been transferred to the island at a rate of one-third over the past five years.

In the 2021 Protocol, TRY 3.25 billion was signed for aid and credit.

However, only 1,833 million Turkish lira was paid, and 1.4 billion Turkish lira remained unpaid on paper.

Jeniduzen