Norwegian Embassy to Bucharest announced today that Norway and the countries in the European Economic Area (EEA) grant a EUR 306 million non-reimbursablefinancing package for Romania by 2016.

This money will be used for projects in areas such as environmental protection, cultural heritage preservation, justice and civil society and they are to be launched during the current year. The Romanian Ministry of European Funds will manage this financial package.

Romania has received funding since entering the EU and EEA in 2007. In the period covering 2004 – 2009, Romania received EUR 98.5 million in EEA and Norwegian Grants, according to EEA. Norway provides 97 percent of the funding, with Iceland and Liechtenstein providing the rest.

This is a part of the official statement of Norwegian Embassy to Bucharest:

“During discussions, ambassador Hovdkinn noted the high absorption rate of 85 percent reported in theprevious funding period. For this period, Romania received some EUR 100 million in the following key areas: environmental protection, sustainable production, health and child care, cultural heritage and NGOs”

The European Economic Area (EEA) unites the 27 EU Member States and the three EEA EFTA States (Iceland, Liechtenstein, and Norway) into an Internal Market governed by the same basic rules. These rules aim to enable goods, services, capital and persons to move freely about the EEA in an open and competitive environment, a concept referred to as the four freedoms.

Romania joined EU in 2007.