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Turkish Cypriot businesses to get 6.5 million euros from EU

10 July 2014

New contracts have been signed with Turkish Cypriot Small to Medium Enterprises (SMEs) in the framework of the EU assistance programme to the Turkish Cypriot community. A total of 47 contracts have been allotted by the European Commission amounting to 6.5 million euros, ‘Famagusta Gazette’ reports.

An EU Commission press release issued on Wednesday, says the main goal of the tender for SMEs was to enhance and improve their competitiveness in order to boost the labour market and preserve natural resources.

The projects receive EU grants in order to promote business excellence via the modernisation of production processes, products and services offered, the press release adds.

They also aim to establish European quality and environmental standards, energy efficiency and measures promoting renewable energy sources, environmental protection and Information and Communications technology.

At the same time, the press release says, they encourage further cooperation between Turkish Cypriot and Greek Cypriot businesses.

The Turkish Cypriot community has, so far, received a total of 6.5 million euros in grants under the EU assistance programme.

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