MoU on use of EEA funds to be signed in Latvia on 16 november

The Memorandum of understanding on the use of funds under the Norwegian Financial Mechanism will be signed in Riga on 16 November. Over a five-year period, EUR 34 million will be made available for projects in Latvia. State Secretary, Deputy Foreign Minister Kim Traavik will sign the agreement on behalf of the Norwegian government at the seminar held to launch the mechanism in Latvia.

In connection with the enlargement of the EEA, Norway will be contributing a total of EUR 1.134 billion to the new EU member states, plus Greece, Portugal and Spain, up until 2009, with a view to promoting social and economic cohesion in Europe. About 90 per cent will go to the new member states, and 60 per cent of this will go to countries in Norway’s immediate neighbourhood, i.e. Poland, Latvia, Lithuania and Estonia.

The MoU will be signed at a seminar in Latvia where actors from Norway and the beneficiary state will exchange views on various areas that might be eligible for support under the financial mechanisms. The seminar, which will be attended by 80 participants, will focus particularly on the environment, regional development and social integration, including the role of civil society.

“We hope the financial mechanisms will help to strengthen the political and economic ties between Norway and Latvia. Many Norwegian actors are interested in co-operating with partners in Latvia. The financial mechanisms will open up opportunities in areas where Norwegian actors have expertise or products that are attractive to Lativa.” said Mr Traavik.

Press contact: Anne Lene Sandsten, tel.: 90 85 81 14

More information on the EEA financial mechanisms is available at: www.europaportalen.no