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Switzerland to grant Hungary Ft 21 bln

Switzerland will grant Hungary CHF 133 million, or Ft 21.6 billion, in the framework of a partnership program aimed at helping the EU's 10 new member states to catch up with mainstream Europe, Swiss Foreign Minister Micheline Calmy-Rey told reporters in Budapest on Monday. “This is not support but partnership. Switzerland will help the convergence of the EU-10 with CHF 1 billion, of which Hungary will receive CHF 133 million,” she said. Hungarian Foreign Minister Ferenc Somogyi said Hungarian-Swiss economic and trade relations were developing and Swiss investors had established a strong presence in Hungary. Switzerland is the eighth biggest foreign investor in Hungary.