Turkey’s presidential palace project for TRNC to cost millions

The details of the economic and monetary cooperation agreement signed by Turkey and Turkish Republic of Northern Cyprus (TRNC) on Wednesday, revealed that Turkey is going to invest 14 million liras ($1,865 million) for a new presidential palace in northern Cyprus.

The project, which will be tendered in Ankara, is aimed to be completed in 2021, Yenidüzen newspaper reported on Friday.

Turkish Vice President Fuat Oktay and TRNC Prime Minister Ersan Saner signed an investment-oriented economic and monetary cooperation agreement in Ankara on Wednesday.

Turkey will allocate 2.5 billion liras ($337 million) to the TRNC within the scope of the agreement that will be used for infrastructure investments, state-run Anadolu agency said on Thursday.

“We, as the mother and the guarantor country, will continue to do our best for the Turkish Cypriots to continue living in peace, tranquillity and prosperity and looking at the future with confidence,” Oktay said during a joint press conference with Saner, in regard of the agreement.

In October presidential elections, the Turkish government backed Ersin Tatar’s candidacy. Tatar was elected as the new leader of TRNC, replacing the former president Mustafa Akıncı who was at loggerheads with President Recep Tayyip Erdoğan over his comments concerning bilateral relations. 

While Akıncı was in favour of a bi-communal, bi-zonal federation in the reunification process of the divided island, Tatar and Turkey are united over the idea of a two-state solution, which was also an issue of contention between Turkey and former president Akıncı.

Following Tatar’s election, Erdoğan signalled the construction of a new presidential palace for Tatar, in his November visit to TRNC.

Cyprus has been divided since a Turkish invasion was prompted by a Greek Cypriot coup aiming to unite the island with Greece in 1974.

Since then, the internationally recognised Republic of Cyprus has controlled the southern two-thirds of the island, and the TRNC, recognised only by Turkey, the northern third.

Since its foundation in 1983, the TRNC has heavily relied on financial assistance from Turkey.