Turkey to Transfer 750 Million TL to North Cyprus

Turkey and the TRNC have signed the economic and financial cooperation agreement. The agreement was signed by Turkey’s Vice President Fuat Oktay and Prime Minister of Ersin Tatar at a ceremony which took place at the prime minister’s office.

The first part of the agreement envisages that Turkey will allocate 750 million TL [about £105 million] to the TRNC.

Speaking during the inauguration ceremony, Oktay stated: “Within the framework of our concrete cooperation, as of today (Saturday) we will transfer a resource amounting to 750 million TL to the TRNC”. He added that these resources will “constitute the life blood in order to speed up investments and services”.

Recalling that he was visiting North Cyprus on the occasion of the 45th anniversary of the Turkish peace operation in Cyprus, Oktay reiterated that Turkey would be always by the side of the TRNC and would “continue undertaking steps for the prosperity of the TRNC”.

Pointing out to the need for the “strengthening of infrastructure reforms in Cyprus”, Oktay explained that it is with President Erdogan’s instructions that they are releasing these financial resources.

Prime Minister Tatar said that the “efforts that Turkey exerts to cooperate with the TRNC and protect the Turkish Cypriot’s rights and interests is an indication of how important is the TRNC state. Our duty is to reinforce and strengthen further our ties with Turkey”, Tatar noted.


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