Ten new member states joined not only the EU, but also the European Economic Area (EEA), which brings together the Iceland, Liechtenstein, Norway and the EU in the Internal Market. In 2007, Bulgaria and Romania also joined and became beneficiaries of EEA and Norway Grants. In addition to the new EU member states, Greece, Portugal and Spain also take part in the funding schemes.
Values
Solidarity - reduce social and economic disparities in Europe Opportunity -support the new EU countries integrate into the European Economic Area Cooperation - strengthen political and economic ties between Iceland, Liechtenstein and Norway and the 15 beneficiary states.
Size of funds
In the five-year period 2004-2009, €1.3 billion will be made available. A total €672 million is channeled through the EEA Grants, jointly set up by Iceland, Liechtenstein and Norway, to the 12 countries that have joined the EU since 2004, as well as to Greece, Spain and Portugal. Norway contributes with around 97% of the funding.
Norway makes available an additional €567 million through the Norway Grants to the ten countries that joined the EU in 2004, and contributes €68 million in bilateral cooperation programmes with Bulgaria and Romania. The bilateral cooperation programmes are administered by Innovation Norway.
Organisation
The EEA and Norway Grants are implemented in cooperation between the donor states and the beneficiary states, with the Financial Mechanism Office (FMO) in Brussels acting as the day-to-day secretariat. A national Focal Point is the co-ordinating authority in each of the beneficiary states. The EEA and Norway Grants have joint management, but separate decision-making bodies. The Financial Mechanism Committee (FMC), consisting of representatives of the ministries of foreign affairs in the three donor states, is the decision-making body for the EEA Grants. The Norwegian Ministry of Foreign Affairs is the decision-making body for the Norway Grants.
The Norwegian Association of Local and Regional Authorities is involved in many EEA- projects in the Baltic countries, Czech Republic, Bulgaria, Romania, Spain and Portugal.
