FINANCIAL MECHANISM OF THE EUROPEAN ECONOMIC AREA AND NORWEGIAN FINANCIAL MECHANISM 2009 - 2014
On the 17th of June 2011 Bulgaria, Iceland, Liechtenstein and Norway signed the Memorandum of Understanding on the Implementation of the Financial Mechanism of the European Economic Area. On that same day Bulgaria and Norway signed the Memorandum of Understanding for the Norwegian Financial Mechanism (NFM). The goal of these financial instruments is to reduce the social and economic disparities in the Europan Economic Area (EEA) and strenghten the bilateral relations between Bulgaria and the Donor States.
Within the EEA and Norway Grants 2009 - 2014 Bulgaria receives 126,6 million Euro (78,6 under EEA and 48 under the NFM). The funding is for projects in priority sectors some of which are: environment protection, renewable energy sources, restoration of cultural heritage, public health initiatives, children and youth at risk, justice and home affairs, etc. In addition almost 12 million Euro are set for support of the non-government organisations via a special fund managed by an entity contracted by the donors.