The EEA financial mechanism represents the contribution of Iceland, Liechtenstein and Norway towards a green, competitive and inclusive Europe.
There are two general goals: the reduction of economic and social differences in Europe, and the strengthening of bilateral relations between the donor countries and the 15 EU countries of Central and Southern Europe and the Baltics.
The three donor countries cooperate closely with the EU through the Agreement on the European Economic Area (EEA). Donors provided €3.3 billion in successive grant schemes between 1994 and 2014. For the period 2014-2021, EEA grants amount to €1.55 billion.
The priorities for this period are:
- Innovation, research, education and competitivene
- Social inclusion, youth employment and poverty reduction
- Environment, energy, climate change and low-carbon economy
- Culture, civil society, good governance and fundamental rights
- Justice and Home Affairs
EEA grants are jointly financed by Iceland, Liechtenstein and Norway, whose contribution is based on their GDP.
Eligibility for grants reflects the criteria set for the EU Cohesion Fund and is aimed at member states with a gross national income (GNI) per capita of less than 90% of the EU average.
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