EEA and Norvegian Financial Mechanism 2009 - 2014

On 18 December 2009 the Donor States (Norway, Iceland and Lichtenstein) reached the agreement with the European Commission (EC) about allocation of the financial assistance for the implementation of the European Economic Area Financial Mechanism (EEA FM) and the Norwegian Financial Mechanism (NFM) in the new planning period 2009-2014. On 28 July 2010 the agreements were signed between the EC and the Donor States for provision of the financial assistance.

The overall objectives of the Financial Mechanisms 2009-2014 are to contribute to the reduction of economic and social disparities within the EEA and to the strengthen bilateral relations between the Donor States and the Beneficiary State. NFM is financed by the Kingdom of Norway.

The aim of the Norwegian Financial Mechanism programme Capacity-Building and Institutional Cooperation between Latvian and Norwegian Public Institutions, Local and Regional Authorities (Programme) is to increase institutional and human resources capacity at public, regional and local institutions responsible for regional development by cooperating and sharing experience with similar institutions in Norway.

Latvia, Estonia, Lithuania, Poland, the Czech Republic, Slovakia, Hungary, Slovenia, Romania, Bulgaria, Cyprus and Malta – the 12 youngest EU member states will recieve funding from NFM in the amount of 800 million EUR in the new planning period.

Assigned net funding for Latvia from EEA FM and NFM is 67,48 million EUR, that is ~30% more than in the previous planning period in 2004.-2009.

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