Background
The EEA Agreement allows the EEA EFTA States (Norway, Iceland and Liechtenstein) to participate in the Internal Market. Ever since the EEA Agreement entered into force in 1994, the EEA EFTA States have contributed to social and economic progress in the least developed countries of the EU and EEA. The contributions have been the Financial Mechanism (1994–1998), the Financial Instrument (1999–2003), and the EEA and Norway Grants (2004–2009). In July 2010, Norway, Iceland and Liechtenstein signed a new agreement with the EU on new financial contributions for the period 2009–2014.
Read more about this topic: EEA And Norway Grants
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