Turkey's development aid rose to $6.2B in 2016

By Dilara Zengin

ANKARA

Turkey's official development assistance reached $6.2 billion last year, up from $3.9 billion in 2015, Turkish Development Minister Lutfi Elvan said on Friday.

"Turkey increased its official development assistance significantly in the past 10 years," Elvan said in a speech at the Turkey-Kosovo Business Forum held in Ankara.

Elvan underlined that Turkey will maintain the constructive contributions that help overcome problems in a global economic system.

The Turkish development minister added that Turkey had contributed to Kosova through the Turkish Cooperation and Coordination Agency (TIKA) to over 600 projects, the worth of which has exceeded $100 million.

"We are determined to continue our support to Kosovo in every field through TIKA," Elvan said.

He also emphasized that the ratification of the free trade agreement between Turkey and Kosovo, which was signed in 2013, would contribute to boost the trade volume between two countries. Pristina has yet to ratify the deal.

The current trade volume between Turkey and Kosovo stood at $269.2 million last year, according to the Turkish Statistical Institute (TurkStat).

"Turkish investors made investments worth €368 million (some $426.8 million) and 700 Turkish companies work in Kosovo providing employment for 10,000 people," Elvan stated.

TIKA defines development assistance as "in-cash and in-kind assistance and investments aiming to provide support and find urgent solutions for the problems of developing countries".