$25bn Loan Available To Finance Cyprus Problem Solution

$25bn Loan Available To Finance Cyprus Problem SolutionIt looks as if there will be loads of money to finance the solution to the Cyprus Problem. Both the International Monetary Fund (IMF) and the World Bank have allegedly said they would stump up $25 billion according to Turkish newspaper Milliyet. Apparently this generous offer appeared during the World Economic Forum in Davos earlier this month.

During one meal, North Cyprus President Mustafa Akinci sat with World Bank president Jim Yong Kim who dropped into the conversation that he would be extending his support by loaning the money needed to finance a solution. This was the result of the UN Secretary-General’s Special Adviser on Cyprus, Espen Barth Eide, sending a letter to the IMF and World Bank requesting support at the request of Presidents Nicos Anastasiades and Mustafa Akinci.

On top of this, US Department of Treasury’s Deputy Assistant Secretary for Europe arrived on the island where he met with the two Finance Ministers and reacted positively to paying compensation with a long term loan.

The north’s Prime Minister Akinci also discussed money with UN secretary general Ban Ki-moon, Vice president of the USA Joe Biden and British Prime Minister David Cameron with positive results, it is rumoured. This led him to say that:

“There will need to be a strong, collective effort from the international community both from a financial aspect and a technical one. It is good to have international support by our side. In Davos we gave a message and received a message.

“From the message we received we understand they will give us this support. Besides, works have already begun on the cost of the solution.”

I will also loan money should there be an agreement, in the expectation that I will never need to dip into my pocket.

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1 comment to $25bn Loan Available To Finance Cyprus Problem Solution

  • Ian Edwards

    Yeah, I believe in flying pigs, too.

    By the time a settlement is reached, $25bn might just about cover the compensation cost of Larnaca Airport….