The European Union said today the bill for its expansion eastwards would run to €40 billion with the admission of 10 new members in May 2004.
The three-year funding was approved last night by leaders of the EU's current 15 member states at their enlargement summit in Copenhagen, but it must still win the backing of the 10 candidate states.
"Today marks an unprecedented and historic milestone in completing this [enlargement] process with the conclusion of accession negotiations with Cyprus, the Czech Republic, Estonia, Hungary, Latvia, Lithuania, Malta, Poland, the Slovak Republic and Slovenia," the EU said in a draft statement of the summit conclusions.
"The Union now looks forward to welcoming these states as members from May 1st, 2004," it said.
According to EU figures, the new members will get €22.85 billion in structural funds between 2004 and 2006 aimed at redevelopment of the poorest regions.
The total funding for agricultural aid for the mainly farm-dependent states from Eastern Europe and the Mediterranean was set at €9.77 billion.
AFP