The projects will commence this year, and will cover support for public administration reforms, environment and infrastructure, promotion of the private sector, and human and social development.

According to the EC:

"This financial contribution should been seen in the context of Switzerland benefiting from access to the enlarged Internal Market and to a number of EU programmes and activities, some of which will be ratified by the Council today. EU-Switzerland contacts will take another step forward when the Commission opens a delegation in Bern in the coming months."

Welcoming the signing of the memorandum, Commissioner for External relations and Neighbourhood Policy, Benita Ferrero-Waldner, added that:

“Switzerland is the EU’s closest neighbour and privileged partner. Together, we enjoy the benefits of our common internal market. Switzerland’s new commitment is a fitting contribution to the economic and social development in the enlarged EU. This contribution further deepens and strengthens the excellent relations which already exist between the EU and Switzerland. ”

The financial contribution will be distributed among beneficiary countries as follows:

Czech Republic: 109,780,000 CHF
Estonia: 39,920,000 CHF
Cyprus: 5,988,000 CHF
Latvia: 59,880,000 CHF
Lithuania: 70,858,000 CHF
Hungary: 130,738,000 CHF
Malta: 2,994,000 CHF
Poland: 489,020,000 CHF
Slovenia: 21,956,000 CHF
Slovakia: 66,866,000 CHF
High priority projects: 2,000,000 CHF.