Norway to renew regional aid for EU newcomers

Norway is likely to increase its funding scheme to the European Union (EU). The money paid by the EU non-member for access to the European market is spent primarily on energy, social and democracy projects in the new EU states.

“We have made good progress and we hope to finalize the negotiations before the summer break,” Rune Bjastad, spokesman for the Norwegian Mission to the EU told EUobserver.

Norway is the leading negotiator with the European Commission, with Oslo funding 97 percent of the current €1.3 billion allocated to EU’s 12 most recent members, as well as Greece, Portugal and Spain.

The funding is likely to increase, but the exact amount is still being negotiated.

Also Iceland and Liechtenstein are part of the negotiations with the EU Commission.

Read more on EUobserver.com and Eeagrants.org