North Cyprus News | Online News for North Cyprus

TRNC Returns Half of Aid Money to Turkey

TRNC Returns Half of Aid Money to Turkey

February 21
11:32 2018

Turkey’s financial aid of Turkey to the TRNC “hit the ceiling” last year. However, 47% of the Turkish grants were not used because the required reforms did not take place.

North Cyprus News - Turkish LiraAccording to the 2017 TRNC economic indicator report, there was a serious increase in Turkey’s separate grants to the TRNC. The economic aid of Turkey to North Cyprus was 726,280,961 Turkish Lira for the year 2016, while aid increased to 1,858,488,587 TL in 2017.

However, some grants were not made available for use in 2017 because the reforms Turkey required did not take place; therefore an amount of 982,000 TL was returned to Turkey, leaving only 47% of the aid used.

Havadis