Switzerland approves EUR 130 mln of non-reimbursable financing for Romania

Newsroom 28/06/2010 | 11:26

The Swiss government approved on Wednesday an agreement through which Romania will receive non-reimbursable financing worth approximately CHF 181 million (about EUR 130 million) over the next five years.

The funds will be directed towards domains such as the environment, infrastructure and the promotion of the private sector, writes Mediafax. Other eligible domains that will be financed through this contribution are social development and the development of human resources.

The agreement needs to be swiftly approved by the Romanian government too. It sets out the rules for the implementation of a program of Swiss-Romanian cooperation based on which applicants can submit

projects for non-reimbursable financing. In 2008, the Switzerland Federal Council decided upon, under the condition that it was approved by Parliament, the expansion of the Swiss financial contribution for Romania and Bulgaria in order to reduce economic and social gaps within the expanded Europe.

Romania was going to receive 70 percent of the total value of the proposed contribution, which amounts to CHF 181 million (some EUR 130 million).