Norway and the countries in the European Economic Area (EEA) will grant a EUR 306 million non-reimbursable financing package for Romania, by 2016, according to the Norwegian Embassy to Bucharest.

The money will be managed by the Romanian Ministry of European Funds and will be used for supporting programs and projects in areas such as environmental protection, cultural heritage preservation, justice and civil society. These programs are to be launched during the current year.

“During discussions, ambassador Hovdkinn noted the high absorption rate of 85 percent reported in the previous 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,” according to the Norwegian Embassy.

The Romanian authorities intend to take all the necessary measures in order to increase the absorption rate during this funding period, according to Eugen Teodorovici, Romania’s Minister of European Funds.

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.

Irina Popescu, irina.popescu@romania-insider.com

(photo source: Sxc.hu)