ABOUT EEA and NORWAY GRANTS
The EEA and Norway Grants represent the contribution of Iceland, Liechtenstein and Norway towards a green, competitive and inclusive Europe.
There are two overall objectives: reduction of economic and social disparities in Europe, and to strengthen bilateral relations between the donor countries and 15 EU countries in Central and Southern Europe and the Baltics. The three donor countries cooperate closely with the EU through the Agreement on the European Economic Area (EEA). The donors have provided €3.3 billion through consecutive grant schemes between 1994 and 2014.
For the period 2014-2021, the EEA and Norway Grants amount to €2.8 billion. The priorities for this period are:
- Innovation, Research, Education and Competitiveness
- Social Inclusion, Youth Employment and Poverty Reduction
- Environment, Energy, Climate Change and Low Carbon Economy
- Culture, Civil Society, Good Governance and Fundamental Rights
- Justice and Home Affairs
Eligibility for the Grants mirror the criteria set for the EU Cohesion Fund aimed at member countries where the Gross National Income (GNI) per inhabitant is less than 90% of the EU average.
The EEA and Norway Grants scheme consists of two financial mechanisms. The EEA Grants are jointly financed by Iceland, Liechtenstein and Norway, whose contributions are based on their GDP. Norway Grants are financed solely by Norway.
The Fund for Youth Employment
The RAISE project is financed through the EEA and Norway Grants Fund for Youth Employment. The Fund for Youth Employment was established in 2017 to contribute to sustainable and quality youth employment in Europe. Unlike the ordinary programmes funded by Iceland, Liechtenstein and Norway, this Fund has a transnational focus – it helps entities across Europe pooling their efforts to find new ways of reducing youth unemployment.
The €60.6 million Fund for Youth Employment complements the Youth Employment Initiative, which is the main EU funding programme to facilitate the roll-out of the Youth Guarantee –a commitment by all EU Member States to ensure that young people receive good quality offer of employment, continued education and apprenticeship.
The 27 projects selected with participants from 25 countries aim to enrol 15 000 young people in education or training, support 14 000 young people in active job search, create 3 000 jobs in NGOs, social enterprises and the ordinary labour market, and help 1 800 young people start up their own businesses. The projects focus on innovation and exploration, transfer of know-how and good practices, and analysis and research – including transnational research.