EU ANNOUNCES PLAN TO DEVELOP ECONOMIES OF NEW MEMBERS

Views on BG | January 30, 2002, Wednesday // 00:00

ABSTRACTED from Associated Press
By PAUL AMES

European Union unveiled proposals Wednesday for a 40 billion euro (35 billion dollar) support package to develop the economies of 10 new members expected to join the EU in 2004.

The money is to support farmers and poor regions in the candidate nations, which are mostly from central and eastern Europe, through the first three years of their EU membership.

However, candidate governments have expressed dismay that the plans will mean they have to wait up to 10 years before receiving Union aid at the levels enjoyed by their richer EU neighbors to the west.

Poland, Hungary, Slovenia, the Czech Republic, Estonia, Slovakia, Latvia and Lithuania are hoping to be in the first group to join, along with Cyprus and Malta.

Romania and Bulgaria aim to become members later in the decade.

The spending plan is an attempt at compromise between concerns among the existing 15 EU nations that funding will be diverted away from them, and the needs of the former-Communist candidates who are mostly considerably poorer than current members.

The proposals have to be approved by the 15 EU governments and will be negotiated with the candidates. A full decision is expected by the end of the year, but the EU's head office warned there was little room to maneuver.

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