Türkiye to provide additional 2.5 billion TL credit to TRNC

Turkey will provide an additional credit of TL 2.5 billion to the TRNC, TL 448 million of which will be a grant. Turkey will provide an additional credit of TL 2.5 billion to the Turkish Republic of Northern Cyprus (TRNC), TL 448 million of which will be a grant. According to the additional international agreement to the economic and financial agreement signed between Turkey and the TRNC on April 14 and published in today’s Official Gazette, the TL 448 million grant additional appropriation that Turkey will provide to the TRNC will be used in the financing of infrastructure investment and real sector projects. An appropriation of TL 2.05 billion was also added to the credit assistance to be provided by Turkey within the scope of the agreement. The additional credit is envisaged to be used in the financing of the TRNC’s budget deficit, public sector, and reform support items.