Donors Could Contribute US$1 Billion to Cyprus

The Turkish side says that US$4 billion is needed to cover rehabilitation expenses. The Greek side on the other hand, contends that nearly US$20 billion would be needed. However, estimates from diplomatic sources have the donations hovering closer to US$1 billion. The sources express that the figures requested by both sides are beyond the limits of an international community currently experiencing donor fatigue.

Several European countries, U.S., Turkey, Greece, the European Development Bank and the World Bank will attend the conference.