TRNC Government Increases Loan Limit for KIB-TEK

The Council of Ministers of the TRNC has approved an increase in the borrowing limit for the Northern Cyprus Electricity Authority (KIB-TEK). Under the official decision, the borrowing limit with TC Ziraat Bankası A.Ş. has been raised from 100 million Turkish lira to 570 million Turkish lira.

The explanatory note attached to the document indicates that the borrowed funds can be allocated for various payments and operational costs of the institution. The decision was approved on February 26, 2025, and is now legally effective.