 on April 8 that will provide about 25 billion Turkish lira ($560.6 million at current exchange rates), KKTC Prime Minister Ünal Üstel said on Friday.){kind=link}
Turkey is set to sign a new economic and financial cooperation protocol with the Turkish Republic of Northern Cyprus (KKTC) on April 8 that will provide about 25 billion Turkish lira ($560.6 million at current exchange rates), KKTC Prime Minister Ünal Üstel said on Friday.
Speaking on a national broadcaster, Üstel said he would travel to Turkey next week to sign the 2026 protocol and put it into effect immediately. He said the funds would be used “where necessary” for the public.
The KKTC is a state in the northern part of Cyprus that is recognized only by Turkey. Ankara is its main political, economic and military backer and signs annual protocols that combine funding with policy targets and investment plans.
The latest signed protocol, concluded in Ankara on March 21, 2025, was worth about 21 billion lira, according to Turkish Vice President Cevdet Yılmaz, who said it included 18.5 billion lira in new appropriations and reached 21 billion lira with carryover funds.
Üstel later described that 2025 agreement as a 21 billion lira program aimed at needs ranging from infrastructure and healthcare to transport and education. Turkish officials at the time had cited it as the largest such package signed between the two sides to date.
This comes amid labor unrest in the KKTC, where trade unions have protested the government’s move to limit cost-of-living adjustments for public employees. After a general strike on March 30, the government enacted the measure by decree on March 31, prompting unions and the main opposition Republican Turkish Party (CTP) to take the issue to the constitutional court on April 2. Another general strike is planned for Monday, according to local media.