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EIB looking at costs for renovating Varosha

13 April 2016

The European Investment Bank (EIB) is considering the possibility of carrying out a financial analysis regarding Famagusta and the fenced off town of Varosha/Maras.

Speaking to ‘Kibris Gazetesi’, chairman of the Within the Walls Famagusta Association (MASDER) and activist of the Famagusta Initiative Serdar Atai, said that a delegation headed by EIB president, Werner Hoyer toured the port of Famagusta and the old town. He noted that European officials were impressed by the area, that there would be follow up visits and that the bank is willing to grant loans.

Noting that the bank officials said that they see that  Famagusta could have a good future, Atai added: “The leadership of both sides have announced that Varosha will be returned on the next day after the solution. Very well, what are we waiting for? The work to be done in a city to be returned should be planned and ready. The bank officials want to see something happen from the point of view of giving credit and we want do not want to see time wasted”.

Pointing out that Confidence Building Measures (CBM) should be implemented in the area, Atai emphasised that as a first step, this multinational delegation of technical experts should be granted access to Varosha. “Moreover, these experts should stop by the port and the walled area of Famagusta and even the university campus, not just Varosha and prepare an analysis on future needs and a financial chart”.

Stressing the importance of technical experts accessing Varosha and start working as soon as possible, Atai said: “We especially support the American experts. The American experts have great experience in post war areas such as Iraq, Afghanistan and Libya. We support having German experts as well. Germany has serious experience regarding divided cities like Berlin. We argue that Famagusta also is a divided city and such experts are needed here”.

Atai said that the EIB delegation told them that financial allocations for 2016 have been completed, but if financial resources are to be granted for 2017, a financial analysis is needed.

Kibris Gazetesi

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