Financial mechanism of the European Economic Area and Norwegian financial mechanism

Link: https://eeagrants.hr/en/

The support of the EEA financial mechanism represents the contribution of Iceland, Liechtenstein and Norway towards a green, competitive and inclusive Europe.

There are two general objectives of the EEA financial mechanism:

1) reducing economic and social differences in Europe and

2) strengthening bilateral relations between the donor countries and the 15 EU countries in Central and Southern Europe and the Baltic.

Donor countries cooperate closely with the EU through the Agreement on the European Economic Area (EEA). EEA grants for the period 2014-2021 amount to 1.55 billion euros.

The priorities for this period include:

# 1 Innovation, research, education and competitiveness;

# 2 Social inclusion, youth employment and poverty reduction;

# 3 Environment, energy, climate change and low-carbon economy;

# 4 Culture, civil society, good governance and fundamental rights;

# 5 Justice and Home Affairs.

EEA grants are jointly financed by Iceland, Liechtenstein and Norway, whose contributions are based on their GDP.

Eligibility for grants reflects the criteria set for the EU Cohesion Fund aimed at Member States with a gross national income (GNI) per capita of less than 90% of the EU average.

The Republic of Croatia has EUR 103.4 million available for the 2014-2021 financing period (EUR 56.8 million under the EEA financial mechanism and EUR 46.6 million under the Norwegian financial mechanism). The share of national co-financing amounts to EUR 9.8 million (15%), which brings the total available funds to EUR 113.2 million.