EU provides Turkey with €4.4 billion pre-accession funds

Published 26.09.2014 00:00
Updated 26.09.2014 17:48
EU provides Turkey with €4.4 billion pre-accession funds

The EU will provide pre-accession assistance for Turkey in the amount of 4.4 billion euros covering the period of 2014-2020.

The EU will support reforms in the 'enlargement countries' with financial and technical help throughout the accession process for a period of seven years. The EU Commission has a budget of 11 billion euros for the pre-accession funds, dedicating the largest share of resources to Turkey among the beneficiaries.

Of this 4.4 million euros provided to Turkey, 620.4 million will be allocated in 2014, 626.2 million in 2015, 630.7 million in 2016, 636.4 million in 2017, and 1.94 billion during 2018-2020.

For the same period of 2014-2020, the other beneficiary countries Albania, Macedonia, Kosovo, Montenegro, Serbia will receive respectively 649.5 million, 664,2 million, 645.5 million, 270.5 million, and 1.508 billion euros.

The pre-accession assistance promotes structural reforms which transform a given sector and bring it up to EU standards. These sectors cover areas that are linked to the enlargement strategy such as rule of law, growth and competitiveness, and democracy and governance.

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