BERLIN (AP) — The European Union's budget commissioner says Britain will need to make payments into long-term projects even after Brexit.

Guenther Oettinger told Germany's Bild newspaper in remarks published Monday that Britain would remain "bound" by some previous commitments.

He says "London will therefore have to transfer funds to Brussels at least until 2020."

Britain voted last year to quit the 28-nation bloc and is due to formally leave in March 2019.

Oettinger said in the long term, Britain's withdrawal will mean a loss of about 10 to 12 billion euros ($11.8-14 billion) per year to the EU budget, which will be made up through a combination of cuts and higher payments from other members.

He estimated Germany would face an "additional single-digit billion" increase.