€1.79 billion to reduce economic and social disparities in Europe

According to the Agreed Minutes, the three donor states will provide €357.7 million per year, or a total sum of almost €1.79 billion, to reduce social and economic disparities in the European Economic Area and to the strengthening of their relations with the beneficiary states in the five-year period 2009-14. € 197.7 million will be made available per year through the EEA Financial Mechanism (the EEA Grants) and € 160 million through the Norwegian Financial Mechanism (the Norway Grants). Norway provides 97% of the total amount.

The beneficiary states of the EEA Grants will be the 12 most recent EU members plus Greece, Portugal and Spain, with Spain receiving transitional support in the period 1 May 2009 – 31 December 2013. The Norway Grants are earmarked for the 12 newest members.

The EEA and Norway Grants 2009-14 will be administered according to a programming framework model in which funds will be channelled through programmes established under various priority sectors in the beneficiary states.

The priority sectors will be:

- Environmental protection and management
- Climate change and renewable energy
- Carbon capture and storage (CCS)
- Green industry innovation
- Research and scholarship
- Protecting cultural heritage
- Civil society
- Promotion of decent work and tripartite dialogue
- Justice and home affairs
- Human and social development

The annual contributions for the EEA and Norway Grants 2009-14 combined, listed by beneficiary state and in descending order, will be:

*) Spain will receive transitional support in the period 1 May 2009 – 31 December 2013.