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Frontpage News 2009 Final report for the Financial Mechanism 1994-1998

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Final report for the Financial Mechanism 1994-1998

The final report outlining the impact of the Financial Mechanism 1994-1998 has now been launched.

A full report summarising the objectives and results of the Financial Mechanism 1994-1998 is now available for download on the EEA and Norway Grants website.

The EEA-EFTA 1994-1998 Financial Mechanism was established in 1994 as an integral part of the Agreement on the European Economic Area (EEA) with the objective of reducing economic and social disparities amongst the EEA states. The Financial Mechanism was funded and managed by the participating EFTA States (Iceland, Liechtenstein and Norway) and since 1995, by the European Union following the accession of Austria, Finland and Sweden.

The Financial Mechanism made available a total €500 million in the form of direct grant assistance as well as interest rebates on European Investment Bank loans of a total value of €1.5 billion. Projects in Greece, Ireland, Northern Ireland, Portugal, as well as nine autonomous regions of Spain were eligible for grant support to public and private investment initiatives within the fields of the environment, including urban development; education and training; and transport, including transport infrastructure.

Read more about the mechanism and the supported projects in the final report.