Romania to receive a non-reimbursable loan of up to 181 million Franks from Switzerland

• Switzerland has signed a bilateral agreement with Bulgaria and Romania

Romania will be able to borrow up to 181 million Swiss Franks for financing programs and projects, and Bulgaria will receive 76 million Swiss Franks for the same purpose, until December 2014, according to a press release by the Swiss Embassy of Bucharest.

Yesterday, the institution announced that the president of the Swiss Confederation Doris Leuthard and Federal Councilwoman Micheline Calmy-Ray, the Bulgarian minister for the management of EU funds Tomislav Donchev and Romanian minister for Foreign Affairs Teodor Baconschi have signed the bilateral framework agreements with Bulgaria and Romania. The agreements regulate the content and the procedures for the implementation of the Swiss contribution to the two countries.

According to provisions, selection and implementation of the first projects may begin as early as the beginning of 2010.

Payments and implementation will take place over a period of 10 years until 2019. The signing of the bilateral agreements will allow the implementation of the Swiss contribution for the two new EU member states, which joined the EU in 2007.

"Switzerland"s commitment to the expanded European Union, represents an expression of the solidarity of the Swiss people. As a result, Switzerland will contribute to the consolidation of economic relationships with the new EU member states. This contribution will be implemented together with Bulgaria and Romania, being a bilateral cooperation", the communiqué states.

According to the procedures for the project promotion and approval that the parties have agreed on, the final decision on the funding of a project or program will rest with Switzerland.

According to predictions, the first projects will be selected and launched in the beginning of 2010, and their implementation will be monitored by the Swiss Embassies of Romania and Bulgaria. The projects and programs will also include measures against abuse and corruption.

The bilateral framework agreements set the collaboration principles and define the concrete thematic areas and the methodology for the unfolding of the project. Switzerland is getting involved in areas in which the partner countries need the highest support, and Switzerland has a high competitiveness and technical performances. These sectors include: healthcare and reforms, supporting the civil society, the integration of minorities, the environment and infrastructure, the stimulation of the private sector, education and research, and the supporting of institutional public partnership.

Through this loan, Switzerland is doing its best to increase the economic and social imbalances of the expanded European Union. Since 2007, Switzerland has provided more than 1 billion Swiss Franks in funding to the other ten states that joined the EU in May 2004. Romania and Bulgaria, which joined the EU in 2007 will receive grants of 257 million Swiss Franks. The legal basis for the Swiss contribution is represented by the Federal Law concerning the collaboration with Eastern European States, which was voted by Swiss citizens on November 26th, 2006, and on the basis of which the Swiss parliament approved the pertaining framework loan.