Switzerland to grant Hungary Ft 21 bln
Monday, October 17, 2005, 14:38
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.