Turkey to Lend 9.5 Billion Lira to North Cyprus

North Cyprus News - Turkish Lira

Turkey is to lend a total of 9.5 billion Turkish Lira to the TRNC, Yeniduzen reports.

According to Yeniduzen, 6.4 billion Turkish Lira will be a grant in order to “carry out reform actions and reduce the local budget deficit” to North Cyprus in 2023.

According to the international agreement published in today’s issue of Turkey’s Official Gazette, 3.89 billion Turkish Lira of the 6.4 billion TL grant-qualified loan is for infrastructure and real sector projects, 2.3 billion is for defence appropriations and 200.1 million Turkish Lira for operations.

Of the total 9.5 billion Turkish Lira loan, 3.1 billion will be used for the current budget deficit, 1.6 billion TL for the reform support appropriation, and 200 million Turkish Lira for other expenditures in the public sector.


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