900 EEA millions from Norway to Portugal

Minister for European Affairs, Frank Bakke-Jensen (Conservatives).Minister for European Affairs, Frank Bakke-Jensen (Conservatives).Photo: regjeringen.no

900 EEA millions from Norway to Portugal

Norway and Portugal signed a new agreement on the use of NOK 900 million in EEA funds to Portugal, according to the Ministry of Foreign Affairs (UD).

 

Of this, over 62 million euros, ie 550 million NOK, will be used to strengthen business, research and climate cooperation, it is stated in a press release from the Foreign Ministry. The agreement was signed in Lisbon on Monday.

“Both in Norway and Portugal, companies that live by the sea are an important driving force in the economy. We are working well together today, and we want to further strengthen this cooperation through the new cooperation agreement, “said Frank Bakke-Jensen, EU and EU Minister.

Innovation Norway

Furthermore, the UD states that Innovation Norway will play a key role in facilitating cooperation between Norwegian and Portuguese partners.

“It is not only Norwegian business and research institutions that can be involved in collaborative projects.

Here there are great opportunities for municipalities, voluntary organizations and the cultural sector.

Everyone who wants to create a green, competitive and inclusive Europe is welcome to participate, continues Bakke-Jensen.

15 recipient countries

Through the EEA agreement, Norway is part of the single market in Europe. In return, Norway pays EEA funds, which are distributed in 15 recipient countries.

The funds are 2.8 billion euros in the period 2014-2021. Norway covers 98 percent of the bill, while Iceland and Liechtenstein pay the rest.

 

© NTB Scanpix / Norway Today

 

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