According to the Memorandum of Understanding signed between Swiss Federal Council and European Community on 27 February 2006, Latvia as one of new member state of European Union receives Swiss financial contribution in the framework of the Swiss - Latvian cooperation programme in order to reduce economic and social disparities. Funding in amount of 59,88 million Swiss francs (~49,7 milj. eiro) is available for Latvia till 2017. The Ministry of Finance acts as the National Coordination Unit, which has overall responsibility for implementation of the Swiss - Latvian cooperation programme. For more information please see the web page www.swiss-contribution.lv administrated by the Ministry of Finance.