Cyprus News on EU releases 197.55 million Euros aid for Turkish Cypriots.
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EU releases 197.55 million Euros aid for Turkish Cypriots

Source: BRT  
15 December 2006

The European Commission has released 197.55 million euros worth of financial aid to North Cyprus as part of the Financial Aid Regulation.

The EU aid will be used for 18 projects covering support for water-wastewater infrastructure, nature protection, telecommunications, energy, rural development, human resources development, support for medium-sized enterprises and urban infrastructure.

The money will also be used for reconciliation projects and provide support to the process of harmonization with the acquis communautaire.

The European Commission prepared the Financial Aid Regulation to improve the economy of the Turkish Cypriot people after its positive response to the Annan Plan during the 2004 referenda.

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