Switzerland fuels Hungarian development with Ft 20 bln

History

Summer of 2008 is the beginning of tendering development assistance provided by an override agreement between Hungary and Switzerland.

Switzerland has made a commitment to provide 1 billion Swiss francs (about $865.7 million) in developmental assistance to countries joining the EU in 2004. 130,7 million Swiss francs (Ft 19,7 billion, $113 million) is allocated to Hungary. According to the agreement, at least 40% of the fund will be spent in the most underdeveloped regions of the country. The chosen projects have to be approved by the Swiss partner. Each individual project must be at least 1 million Swiss francs in value (Ft 155 million-worth). (Napi Gazdaság)

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