The European Union will provide a 310 million euro ($322.9 million) grant during the years 2025-2027 under the Instrument for Pre-Accession Assistance (IPA) funding mechanism to enhance the competitiveness of companies in Türkiye, a senior official said Wednesday.
The EU has already provided 780 million euros in financial support to Türkiye for its green transformation process, Jurgis Vilcinskas, deputy head of mission of the EU Delegation to Türkiye, said.
Vilcinskas further emphasized the EU's ongoing commitment to support both green and digital transformations in the country.
From 2025 to the end of 2027, the IPA grant will focus on prioritized areas, including civil society, fundamental rights, environment, energy, transportation, education, employment and competitiveness.
The IPA is a mechanism through which the EU has been supporting reforms in the enlargement region with financial and technical assistance since 2007. The funds build up the capacities of the beneficiaries throughout the accession process.
The mechanism had a budget of 11.5 billion euros for the period 2007-2013. Its successor, IPA II, was allocated 12.8 billion euros for the period 2014-2020.
For the multiannual financial framework period 2021-2027, the IPA III budget stands at 14.162 billion euros.
"We want companies in Türkiye to transform into eco-friendly and sustainable enterprises, and we are working to enhance their competitiveness," Vilcinskas told Anadolu Agency (AA).
He also stressed the EU's desire to support increased digitalization efforts among companies to better meet customer expectations.
Regarding the potential imposition of additional tariffs on the EU by the United States under President Donald Trump's administration, Vilcinskas said they would rather avoid disruptions in trade.
"The U.S. is one of the countries with which we have the largest trade volume, so we would like to avoid any disruptions."
Trump has repeatedly complained about the U.S. goods trade deficit with the 27-country EU and has said the bloc could be the next in line for new tariffs.
The bloc's trade chief, Maros Sefcovic, on Tuesday said the EU wants to engage swiftly with the United States over planned levies, while his boss, European Commission President Ursula von der Leyen, forecast negotiations with Washington would be tough.
Von der Leyen said a priority was to work on areas where EU and U.S. interests converge, such as critical supply chains and emerging technologies.
"We will be open and pragmatic in how to achieve that. But we will make it equally clear that we will always protect our own interests," she said in a speech in Brussels.
Additional U.S. tariffs of 10% on Chinese goods took effect as of Tuesday, prompting China to hit back. Canada and Mexico were also in line for 25% U.S. tariffs, but each secured a 30-day pause.
