Estonia and Norway sign EEA funds deal
Norway and Estonia
signed on 17 November 2004 a Memorandum of Understanding (MoU) for the
Norwegian Financial Mechanism, which makes available close to 23
million euros over a five-year period for projects in Estonia aiming to
reduce social and economic disparities within the newly enlarged
European Economic Area (EEA).
The MoU was signed
by State Secretary, Deputy Foreign Minister Kim Traavik on behalf of
Norway, and by Finance Minister Taavi Veskimagi on behalf of Estonia
during a seminar held in Tallinn, Estonia attended by some 200
representatives from both countries. The seminar focused in particular
on priority sectors such as regional development, health and
childcare, the environment and sustainable development.
The Norwegian Financial Mechanism and the closely-related EEA Financial Mechanism were established under the EEA Enlargement Agreement in May this year, and will make a total 1.17 billion euros available over a five-year period to the 10 new EU Member States, and to Spain, Portugal and Greece. It is expected that Estonia will sign an MoU with the three EEA EFTA countries Iceland, Liechtenstein and Norway for the EEA Financial Mechanism in the near future, which will make available an additional 10 million euros over the five-year period.
The EEA Agreement makes the EEA EFTA states Norway, Iceland and Liechtenstein part of the Internal Market, which was expanded from 18 to 28 member states at the same time as the EU enlargement in May. The EEA Financial Mechanism and the Norwegian Financial Mechanism established under the EEA Enlargement Agreement aim to reduce social and economic disparities in the EEA area.
The EEA Financial Mechanism makes funds available to the ten countries which joined the EU in May, and to Spain, Portugal and Greece. The Norwegian Financial Mechanism makes funds available to the ten new EU member states. In total, the two mechanisms make available approximately 1.17 billion euros over a five-year period to the 13 countries eligible for funding. Both mechanisms are administered by the Financial Mechanism Office in Brussels, which is affiliated to the European Free Trade Association (EFTA) Secretariat.
The Norwegian Financial Mechanism and the closely-related EEA Financial Mechanism were established under the EEA Enlargement Agreement in May this year, and will make a total 1.17 billion euros available over a five-year period to the 10 new EU Member States, and to Spain, Portugal and Greece. It is expected that Estonia will sign an MoU with the three EEA EFTA countries Iceland, Liechtenstein and Norway for the EEA Financial Mechanism in the near future, which will make available an additional 10 million euros over the five-year period.
The EEA Agreement makes the EEA EFTA states Norway, Iceland and Liechtenstein part of the Internal Market, which was expanded from 18 to 28 member states at the same time as the EU enlargement in May. The EEA Financial Mechanism and the Norwegian Financial Mechanism established under the EEA Enlargement Agreement aim to reduce social and economic disparities in the EEA area.
The EEA Financial Mechanism makes funds available to the ten countries which joined the EU in May, and to Spain, Portugal and Greece. The Norwegian Financial Mechanism makes funds available to the ten new EU member states. In total, the two mechanisms make available approximately 1.17 billion euros over a five-year period to the 13 countries eligible for funding. Both mechanisms are administered by the Financial Mechanism Office in Brussels, which is affiliated to the European Free Trade Association (EFTA) Secretariat.
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