Switzerland has allocated the amount of EUR 3.82 mln or CYP 2.2 mln in project finance aid to Cyprus under a memorandum signed on Swiss financial contribution to the new Member States
The European Union and Switzerland signed the Memorandum of Understanding setting up the arrangements by which Switzerland will finance projects in the new EU Member States for a total amount of one billion Swiss Francs (about EUR 645 mln) over a period of five years. The projects will start in 2006 and will cover support for public administration reforms, environment and infrastructure, promotion of the private sector, and human and social development.
This financial contribution should been seen in the context of Switzerland benefiting from access to the enlarged Internal Market and to a number of EU programmes and activities, some of which will be ratified by the Council today. EU-Switzerland contacts will take another step forward when the Commission opens a delegation in Bern in the coming months.
Welcoming the signing of the memorandum, Commissioner for External relations and Neighbourhood Policy, Benita Ferrero-Waldner, said: “Switzerland is the EU’s closest neighbour and privileged partner. Together, we enjoy the benefits of our common internal market. Switzerland’s new commitment is a fitting contribution to the economic and social development in the enlarged EU. This contribution further deepens and strengthens the excellent relations which already exist between the EU and Switzerland. ”
The Memorandum will be signed by Ursula Plassnik, Federal Minister for Foreign Affairs of Austria, and Benita Ferrero-Waldner, on the EU side, and by Micheline Calmy-Rey, Head of the Federal Department of Foreign Affairs of the Swiss Confederation, on the Swiss side.
The Swiss Federal Council will select the projects to be funded in agreement with the beneficiary States, taking account of their requests, needs and absorption capacity. The Federal Council and the Commission will communicate regularly on the implementation of the Swiss contribution, and the Commission will screen the draft projects for their compatibility with the Community’s objectives.
The financial contribution will be distributed among beneficiary countries according to the table below. A small amount has been earmarked for high priority projects.
Beneficiary State Swiss Francs
Czech Republic 109.780.000
Estonia 39.920.000
Cyprus 5.988.000
Latvia 59.880.000
Lithuania 70.858.000
Hungary 130.738.000
Malta 2.994.000
Poland 489.020.000
Slovenia 21.956.000
Slovakia 66.866.000
High priority projects 2.000.000
