FINANCIAL MECHANISMS

The EEA financial mechanism and the Norwegian financial mechanism contribute to the reduction of social and economic inequalities in Europe and at the same time strengthen bilateral cooperation between donor countries (Iceland, Liechtenstein and Norway) and beneficiary countries.

The basis for the establishment of two financial mechanisms is the Agreement on the European Economic Area from 1994. which enabled Iceland, Liechtenstein and Norway to participate in the common European market. The agreement established the common goal of reducing social and economic inequalities in Europe and strengthening cooperation between European countries. Until now, financial contributions have been channeled through the Financial Mechanism (1994-1998) and the Financial Instrument (1999-2003) and the EEA Financial Mechanism and the Norwegian Financial Mechanism (2004-2009 and 2009-2014).

By joining the European Union, the Republic of Croatia gained the possibility of joining the European Economic Area (EEA). Accession negotiations were completed in April 2014. by signing the Agreement on Participation in the EEA, which enabled the Republic of Croatia to use funds from the EEA Financial Mechanism and the Norwegian Financial Mechanism in 2009. – 2014 in the amount of 9.6 million euros. CRO

For the period from 2014 until 2021 In 2015, the donor countries set aside a total of 2.8 billion euros for 15 European countries: 1.5 billion euros within the EEA financial mechanism and 1.3 billion euros within the Norwegian financial mechanism. In the aforementioned perspective, the Republic of Croatia will receive 103.4 million euros.