Iceland, Lichtenstein and Norway as donor states founded Financial Mechanism development projects in the European Economic Area in 1994. In 2004, the year of the enlargement of the European Union, the three donor states launched EEA and Norway Grants mechanism to provide funding for social and economic development in 15 countries in Central and Southern Europe in order to reduce disparities between regions and states within EU.
Grants overview
Both, the EEA Grants and Norway Grants, are in the large part funded by the state of Norway. The Norway Grants are in full awarded to 12 new EU member states, the EEA Grants include old member in Southern Europe (Greece, Spain and Portugal). The priority areas of funding of both grant schemes include environmental and sustainable development.
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