News:Argos:Turkey to receive 495 million euro pre-accession EU aid

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Turkey will benefit from new European Union funds thanks to the implementation of a new mechanism allocating funds to countries that are candidates for membership in the bloc. A recent contract signed between Ankara and Brussels grants Turkey the first lot of financial assistance, amounting to 497 million euros, while the amount will rise to 781 million euros in the fifth lot.

New financial assistance under the Instrument for Pre-Accession Assistance, or IPA, including funds transferred from the EU's 2007-2013 budget, will be deployed through EU projects. Transitional period aid and institutional capacity development; regional and cross-border cooperation; regional development; human resource development; and rural development are the five main areas to be supported by the fund.

Turkish Daily News



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