Aid to Northern Cyprus (Taken Question)

Question: On what kind of projects will the $30.5 million be spent, how will we disburse the money and what parties will be involved in the process?

Answer: The money will be used to fund the Cyprus Partnership for Economic Growth Program to promote economic growth in the Turkish Cypriot community and support integration of the north and south. This we hope will lead to a community able to shoulder its share of the economic costs of an eventual Cypriot settlement and reunification, and adopt European Union standards. The funds will be directed toward strengthening Turkish Cypriot small and medium enterprises and restructuring the financial sector. The mechanisms for disbursement are still being determined.

We will conduct this program in a transparent manner and consult with all parties as appropriate. Moving forward with this program does not mark a change in U.S. recognition policy on Cyprus.

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