The value of the SEE/Norwegian funds granted to Romania for 2014-2021 has been raised to EUR 502 million, up EUR 196 million compared to the previous funding period.

At the beginning of this month, the European Economic Area and the European Union signed the agreements to renew the EEA Financial Mechanism and the Norwegian Financial Mechanism for the programming period 2014 - 2021.

The two financial mechanisms, that are also known as the SEE/Norwegian funds, aim to promote social and economic cohesion in Europe, by reducing social and economic gaps within the European Economic Area.

Romania will get more funds compared to the previous funding period, as the total value of grants awarded by Iceland, Liechtenstein, and Kingdom of Norway increased by almost EUR 3 billion.

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