The EEA Financial Mechanism

EEA EFTA States assign €31 million to Portugal

The Memorandum for Understanding (MoU) signed between EFTA and Portugal in Brussels February 3 made € 31 million EEA funds avaliable to Portugal over a five-year period.

Portugal will use the funds to promote growth in its private and public sector in areas such as cultural heritage, employment, academic research, and development. 
The Portuguese Minister, Jose Louis Arnaut, emphasized the priority of cultural heritage based on his country’s long history and called the agreement a “catalyser to improve cooperation” with EFTA-states. 
The EFTA chairman, ambassador Bjørn T. Grydeland, stated that: “We certainly look forward to further cooperation with Portugal in our common endeavour to met the overriding objectives of the Mechanism, and we believe that the signing of the MoU here today is a very important step in this respect”.
Although Portugal will be in the “driving seat” for implementation, Grydeland stressed the need for “transparency and strict financial control” in order to achieve the main goals of the agreement, ensured by EFTA and the Financial Mechanism Office located in Brussels.
“It is a great reassurance to see that the Portuguese side has already come far in its preparations and shows clearly that it shares our aim for a mutually beneficial relationship,” Grydeland said.
Ambassador Grydelands full statement can be read here.
The MoU was established to reduce social and economic disparities in the EU, promote cooperation between EFTA and EU states, and to improve Internal Market procedures.
As EEA members, the EFTA-states initiated the MoU agreement as an important aspect of their contribution to the structural improvement of all EU Member States.
(Published 04.02.05)




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 Photo: EUDEL