Swiss Council Requests Parliament to Pass Bulgaria Credit Facility

Politics » BULGARIA IN EU | June 6, 2009, Saturday // 15:03
Swiss Council Requests Parliament to Pass Bulgaria Credit Facility: Swiss Council Requests Parliament to Pass Bulgaria Credit Facility The Swiss Parliament has been asked to pass a credit facility for Bulgaria. Photo by webshots.com

Switzerland's Federal Council has requested a credit facility of CHF 76 M to be made available to Bulgaria by the Swiss Federal Assembly.

The Swiss Federal Council sent the Dispatch on the Credit Facility for the Enlargement Contribution in favour of Bulgaria and Romania to parliament.

Switzerland's contribution to reducing economic and social disparities in an enlarged EU totals CHF 257m over a five-year period.

CHF 76m is earmarked for Bulgaria and CHF 181m for Romania. The credit facility is based on the Federal Act on Cooperation with Eastern Europe (FA East) which was approved on 26 November 2006 by the Swiss people.

An official press release from the Swiss Federal Department of Foreign Affairs stated that "the successful integration of Bulgaria and Romania into the EU is also in Switzerland's interests. Swiss commitment is therefore not only an expression of solidarity but also promotes its economic and political relations with Bulgaria and Romania and with the EU."

 

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Tags: Swiss Federal Council, credit facility
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