As a result of Bulgaria’s accession to the European Economic Area (EEA), the country became eligible for the EEA Fiancial Mechanisms through which Norway, Iceland and Liechtenstein contribute to the social and economic development of the country.
Over a two-year period until April 2009, the three EEA EFTA states are making available 41,5 million Euro to Bulgaria through two financial mechanisms in order to reduce economic and social disparities. The EEA Financial Mechanism (with a total allocation of 21.5 million Euro) is administered by the National Focal Point at the Ministry of Finance. The programme consists of the following types of project assistance: 1) Individual Projects; 2) Technical Assistance; 3) NGO Fund; and 4) Scholarship Fund (under preparation). The Norwegian Cooperation Programme makes an additional 20 million Euro available for projects in Bulgaria. The programme is managed by Innovation Norway – a state owned company, established with the purpose of promoting Norwegian companies nationwide and abroad.
Following the decision of the European Commission (EC) to withdraw the accreditation of the Central Finance and Contracts Unit (CFCU) and to suspend payments of EU Grants in Bulgaria, the Financial Mechanism Committee (FMC) decided on 3 September 2008 to act in harmony with the EC and suspend the payments within the EEA Grants in Bulgaria and to suspend the role of the CFCU in the implementation of the EEA Grants in Bulgaria. The decision to suspend payments does not apply to the NGO Fund, (which is implemented directly by the Financial Mechanism Office), the Scholarship Fund and the Norwegian Cooperation Programme with Bulgaria.
In its dealings with the Bulgarian side, the Embassy has expressed the hope that a rapid solution be found in order not to lose time, but manage to bring the grant scheme to a successful end within the set time frame.