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Memorandum of Understanding between Swiss Federal Council and European Community about Swiss financial contribution diverted to the new countries of European Union in order to reduce economic and social disparities was signed on February 27, 2006. Therewith for Latvia as for one of new European Union member state financial assistance is planned in the amount of 59,88 Swiss CHF (26,11 milj. Ls in concordance with exchange rate of Latvia's Bank), and it is planned to be used with support of Swiss - Latvian cooperation programme.

Swiss - Latvian cooperation programme is financial assistance mechanism used additionally to financial assistance of European Union Structural funds and Cohesion fund as well as European Economic Area and Norwegian Financial Mechanism.

Swiss - Latvian cooperation programme is guided to two targets:

  1. to promote reduction of economic and social disparities between the Latvia and the most progressive countries within the enlarged European Union;
  2. to promote reduction of economic and social disparities between dynamic centres of cities and structurally weak regions of periphery.
In order to ensure implementation of Swiss financial contribution, "Framework Agreement between the Government of the Republic of Latvia and the Swiss Federal Council Concerning the Implementation of the Latvian - Swiss Cooperation Programme to Reduce Economic and Social Disparities within the Enlarged European Union" was approved by Regulations Nr.839 issued by the Cabinet of Ministers of the Republic of Latvia on December 4, 2007 and signed by both sides on December 20, 2007.

The Framework (core) Agreement basically sets down the main conditions of Swiss - Latvian cooperation programme - objectives of the contribution, its amount, the utilization of the financial support, supported priorities and financial assignments, as well as responsible institutions for administration of the Swiss - Latvian cooperation programme.

For more information, please visit www.swiss-contribution.lv