EU - Norway: Agreement on a Norwegian financial mechanism for the period 2014-2021

4 May 2016 12:48 PM

On 3 May 2016, the European Union and the Kingdom of Norway signed an agreement establishing a new Norwegian financial mechanism for the period 2014-2021. 

Norway undertakes to contribute for a seven year period to the reduction of economic and social disparities in the European Economic Area, and to the strengthening of its relations with the beneficiary states. 

Under the agreement, financial contributions should be made available by Norway in the following priority sectors: 

(a) innovation, research, education and competitiveness; 

(b) social inclusion, youth employment and poverty reduction; 

(c) environment, energy, climate change and low carbon economy; 

(d) culture, civil society, good governance, fundamental rights and freedoms;  and 

(e) justice and home affairs.   

The agreement is to be applied provisionally as of the date stipulated in its articles, pending completion of the relevant procedures for its ratification or conclusion and entry into force.  

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