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Frontpage News 2004 Latvia signs EEA funds deal with Norway

Latvia signs EEA funds deal with Norway

The MoU was signedby State Secretary, Deputy Foreign Minister Kim Traavik o­n behalf ofNorway, and by State Secretary, Ministry of Finance Valentina Andrejevao­n behalf of Latvia during a seminar held in Riga, Latvia attended bysome 80 representatives from both countries. The seminar focusedparticularly o­n priority sectors such as environment, regionaldevelopment and social integration, including the role of civil society.

The Norwegian Financial Mechanism and the closely-related EEA Financial Mechanism were established under the EEA Enlargement Agreement in May this year, and will make a total 1.17 billion euros available over a five-year period to the 10 new EU Member States, and to Spain, Portugal and Greece. It is expected that Latvia will sign an MoU with the three EEA EFTA countries Iceland, Liechtenstein and Norway for the EEA Financial Mechanism in the near future, which will make available an additional 20 million euros over the five-year period.