Additional €1.5 million for Malta under Swiss financial contribution to the EU
Malta is to get an additional two million Swiss francs (about €1,500,000) under the Swiss Financial Contribution to the EU after it successfully committed all of the 2,994,000 Swiss francs (€2,170,000) originally allocated to it in 2007 under this...
Malta is to get an additional two million Swiss francs (about €1,500,000) under the Swiss Financial Contribution to the EU after it successfully committed all of the 2,994,000 Swiss francs (€2,170,000) originally allocated to it in 2007 under this financial instrument.
The government said today that following discussions at EU level in 2006 on the distribution of the Swiss Financial Contribution 2007-2013, it was agreed that a reserve of two million Swiss francs (€1,500,000) would be allocated to the member state which would successfully commit its allocated funds first. This reserve had been agreed after Malta repeatedly contested the distribution key on which the funds were being allocated as this key was disadvantageous to Malta.
Malta was the first member state to commit all its allocation, securing the reserve for its disposal.
Following discussions with the Swiss government, and agreement at EU level the additional funds will be allocated to the Mediterranean Academy for Diplomatic Studies (MEDAC) for four academic years starting from the 2010-2011 academic year.
MEDAC, established in 1990 following an agreement between the governments of Malta and Switzerland, offers advanced degrees in diplomacy with a focus on Mediterranean issues.
This decision means that for 2007-2012, Malta will benefit from a total of 4,994,000 Swiss francs (€3,670,000) under the Swiss Financial Contribution to the EU.
Malta’s permanent representative to the European Union, Richard Cachia Caruana, said:
“This decision is great news for Malta and it is very satisfying to see that the tough negotiations we had in 2006 on the establishment of this reserve had such a successful outcome.
"It is also a notable achievement that, amongst all member states, Malta was first past the post in terms of committing its funds under the Swiss Financial Contribution to the EU; this is due to the commitment and dedication of those responsible for managing EU funds."