On 3 February, Portugal will sign a Memorandum of Understanding with the three EFTA/EEA countries Iceland, Liechtenstein and Norway concerning funds under the EEA Financial Mechanism. Around EUR 31 million will be made available over a five-year period for projects in Portugal. The priority areas will be preservation of the European cultural heritage, competence building and research.

The EEA Financial Mechanisms were established in connection with the EEA enlargement on 1 May 2004. Through these mechanisms, Norway will provide support for reducing social and economic disparities in the new EU member countries, and in Greece, Portugal and Spain. This will amount to EUR 1.134 billion over the period up to 2009. Portugal has also received EEA funds through previous schemes.

More information on the EEA Financial Mechanisms can be found on: www.europaportalen.no