EEA and Norwegian Mechanisms Program Successfully Closed in Hungary

Over the 2004-2009 period funding of over 135 million EUR in value, i.e., by and large HUF 34.5 billion, was made available for various Hungarian projects and funds by the European Economic Area (EEA) and Norwegian Financial Mechanism.

The grant scheme called the EEA and Norwegian Financial Mechanisms was set up to facilitate social and economic cohesion in the European Economic Area that was also expanded as an outcome of the 2004 enlargement of the EU. In view of the fact that the three donor countries Norway, Iceland and Liechtenstein are not members of the EU, yet they enjoy the full benefits of the internal market as members of the EAA, these countries provide funding to the newly acceded member states, therefore Hungary as well. Although this is really two grant schemes, they can nevertheless be considered a single financial scheme, since they apply the same set of rules and procedures. 
In accordance with the above, a total of EUR 135 million was made available to Hungary, which framework the country managed to fully commit up to the set deadline.

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