Frontpage News 2011 Suspension of EEA Grants to Greece

Suspension of EEA Grants to Greece

Iceland, Liechtenstein and Norway have decided to suspend payments of EEA Grants to Greece. The decision is based on Greece's lack in fulfilling necessary obligations.

The suspended payments relate to the funding period 2004-09. Approximately €1.7 million has been disbursed so far. The remaining €29.4 million will be frozen for the time being.

Through project funding the EEA Grants contribute to reducing economic and social disparities in Central and Southern Europe.

Greece has taken the responsibility to provide approximately 50 percent co-financing to every project. This has not been followed up in all cases. It is also unclear whether all funds already disbursed to Greek authorities have been transferred to project promoters.

The donors cannot accept breach of the rules and have asked the Greek authorities to sort out these issues and to document how the funds have been spent.

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