New EU Grant to Support Businesses

North Cyprus News - European Commission

The European Commission has introduced a fresh initiative to help Turkish Cypriot businesses, Yeniduzen reports. Collaborating with the German International Cooperation Agency, GIZ International Services, the European Commission has launched a project to bolster the private sector’s growth and facilitate cross-border trade within the Turkish Cypriot community, aiming to contribute to the island’s reunification efforts.

With a budget of 4 million euros, funded through the EU Aid Programme for the Turkish Cypriot community, this two-year undertaking prioritises integrating Turkish Cypriot companies into the island’s economy and the wider EU single market. The project aims to bridge the gap between production standards in the Turkish Cypriot community and those prevalent across the European Union. By boosting digitalisation among businesses and promoting sustainable production processes, the project seeks to enhance the competitiveness of these enterprises.

Additionally, the initiative aims to ensure that goods and services traded by Turkish Cypriot companies through the Green Line comply with EU standards. Small and medium-sized enterprises (SMEs) and startups will have access to grants, as well as training, consultancy, and business development programmes.

Details about grant applications and training opportunities will be announced on the EU Information Centre’s website. Since 2006, the Commission has allocated over 25 million euros in grant support to Turkish Cypriot businesses.

The upcoming grant call is expected to be announced in the summer months, with beneficiaries receiving continuous technical support throughout the duration of the project.

Yeniduzen

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