Ministry broadens scope of loan scheme for half finished hotels
Ministry of Tourism announced that the scope of the loan scheme for half finished hotels which don’t have casinos will be broadened.
The loan scheme was launched four years ago with the funds provided by the Turkish Aid Delegation and was given out long-term loans to the half finished hotels that do not have casinos. According to the information given by the Ministry, the criteria for eligibility have been revised and the scope of the scheme has been broadened to include more enterprises.
Before the revision, in order to be eligible for the loan, 50 percent construction of a hotel should have been completed. However with the new criteria, hotels (including boutique hotels) in the priority areas such as Karpas and Lefke region, is now eligible even if only 15 percent of the construction is completed. In the other regions that are not listed as the priority areas, 30 percent completion criteria will be applied.
According to the information given by the Ministry up to 1,500,000 TL will be given to eligible enterprises.