Swiss cabinet approves EU cohesion fund deal
The Swiss cabinet has approved a SFr1 billion ($760 million) funding package for the new EU states over the next five years. The beneficiaries are limited to the ten new member states and the deal will be signed in Brussels on Monday.
Switzerland had promised to pay its contribution to the Cohesion Fund when it signed the second set of bilateral accords with the EU in May 2004. The Swiss economics minister, Joseph Deiss, said in Bern on Wednesday that the funding is allocated for a five-year period, but payments will probably be spread out over ten years.
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