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International players pledge to support solution financing

President Nicos Anastasiades with a delegation from the World Bank on Thursday

International organisations agreed on Thursday that in the event of reunification in Cyprus they would seek to coordinate support for the economy and their plans for financial assistance and investment.

President of the European Bank for Reconstruction and Development (EBRD), Suma Chakrabarti, chaired a meeting of international organisations to facilitate a better understanding and alignment of needs assessments made by individual organisations and discuss possible support for the economy of Cyprus following any successful outcome of talks to unify the island.

“I recognise that the talks between the two communities are not easy and there is a great deal still to discuss but today’s meeting is a sign that should agreement be reached, the EBRD and other international organisations would stand ready to provide technical, financial and political support within their respective mandates in order to help the island realise the huge economic potential related to reunification,” Chakrabarti said.

The discussion took place on the margins of the EBRD 2017 Annual Meeting in Nicosia.

Alongside the EBRD, high level representatives of the European Commission, the World Bank, the International Monetary Fund, the European Investment Bank, the Council of Europe Development Bank and the United Nations were present.

The meeting was also attended by the chief negotiators from both the Greek Cypriot and Turkish Cypriot communities, who briefed the participants on their talks so far.

During the private discussions, the international organisations shared assessments of the island’s economic needs and exchanged views on preliminary plans for assisting the private and public sectors in Cyprus.

Afterwards the EBRD chief said: “What was very clear from that discussion was actually that the economic dividend from reunification was very strong and far better than the status quo. That is a message I think it is quite important to put out there”.

“We in the EBRD fully support a successful reunification which would allow the EBRD share holders I hope to extend our mandate beyond 2020,” he added.


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