The EEA Financial Mechanism

Norway and Latvia signs a MoU on Norwegian financial contributions


A Memorandum of Understanding (MoU) on the implementation of the Norwegian Financial Mechanism in Latvia was today signed by State Secretary Kim Traavik, Norwegian Ministry of Foreign Affairs, and his Latvian counterpart. Over a 5-year period, 34 million euro will be made available for programmes and projects in Latvia. The Norwegian contributions are connected to the enlargement of the European Economic Area (EEA) that took place 1 May this year, when the 10 new EU members also joined the EEA.

The Memorandum of Understanding was signed in connection with a Norwegian-Latvian seminar in Riga today, with some 80 participants and focusing on the environment, regional development and social integration including the role of civil society. State Secretary Kim Traavik stated “We want the financial contributions to contribute to the strengthening of the political and economic relations between Norway and Latvia”.

Norway has through the EEA Agreement committed a total of 1,134 billion euro towards social and economic cohesion in the EU for the period 2004-2009, of which the big bulk will be allocated to the new EU member states.

Per Strand Sjaastad

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