Norway to fund poor EU countries, get better fishing quotas


Peace and Freedom

Norway, which is part of the EEA trade agreement, said on Monday it had signed up for annual contributions of around 400 million euros ($433 million), aided by smaller contributions from Liechtenstein and Iceland, also non-EU members.

The money goes to projects ranging from public health initiatives to renewable energy in 15 EU member states where the gross national income per person is less than 90 percent of the EU average.

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The payments are distributed through two agreements. The EEA Grants, funded 96 percent by Norway and four percent by Liechtenstein and Iceland, total 221.2 million euros ($240.20 million) per year in the period from 2014 to 2021.

In addition, Norway is the sole financier of the Norway Grants, which amount to 179.1 million euros per year in the agreed period. Countries who have entered the EU before 2004 are exempt from receiving funding under the Norway Grants.

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