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Swiss Govt Approves CHF181M Non-Reimbursable Financial Aid For Romania

The Swiss Government on Wednesday approved a frame agreement, whereby Romania will receive non-reimbursable funds worth CHF181 million (nearly EUR130 million) in the next five years.
Swiss Govt Approves CHF181M Non-Reimbursable Financial Aid For Romania
24 iun. 2010, 14:58, English

Funds will be used in the fields of environment, infrastructure, social development, human resources and the promotion of the private sector.

In 2008, the Swiss Federal Council decided, following the Parliament’s approval, to extend the Swiss financial contribution for Romania and Bulgaria in order to reduce economic and social gaps at the level of the enlarged European Union. The proposed financial contribution was of CHF257 million, of which, Romania was to receive 70%, namely, CHF181 million. So far, Switzerland has also provided non-reimbursable financial aid for ten countries that joined the European Union in 2004.

According to the Romanian Finance Ministry, the frame agreement is further pending the Romanian Government’s approval and includes the regulations needed to implement the Swiss-Romanian cooperation program, whereby applicants can submit projects based on non-reimbursable financing.