Bulgaria Woos Swiss CHF 1 B Fund

Politics » BULGARIA IN EU | March 15, 2006, Wednesday // 00:00

Bulgaria has expressed hopes to be included among the beneficiaries of a 1 billion-Swiss-franc funding package that Switzerland approved last February for the ten new EU member states.

This was announced by Bulgaria's President Georgi Parvanov at a press conference in the framework of his official visit to Switzerland.

During a meeting with Swiss President Moritz Leuenberger, Parvanov voiced expectations that his country will be able to use payments allocated by Switzerland to the new member states under the EU cohesion fund deal.

President Leuenberger expressed Switzerland's strong support for Bulgaria's accession to the EU, which, in his words will strengthen Europe's stability and security.

He noted that the decision for the allocation of CHF 1 B to the ten new member states, as approved by parliament, may be put to a referendum.

As approved by the Swiss parliament, the funding package for European Union member states is allocated for a five-year period, but payments may spread out over 10 years.

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