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Slovakia to receive third grants from Norwegian, EEA funds

Xinhua, November 24, 2016 Adjust font size:

Slovakia is expected to receive approximately 113 million euros (119.22 million U.S. dollars) by 2021 from financial mechanisms of the European Economic Area(EEA) and Norway, Slovak authorities reported on Wednesday.

The country will sign memorandums of understanding concerning implementation processes for the financial mechanism of the European Economic Area and Norwegian financial mechanism with Iceland and Liechtenstein, and Norway, according to the Slovak foreign and European ministry's press department.

"This is going to be the third series of these grants in Slovakia, opening opportunities for the country by 2021 to receive funds equalling approximately 113 million euros, which is around 30 million euros more than in the previous period," noted the ministry.

Slovakia's state budget will contribute 15 percent of the overall amount towards projects due to be financed from the funds.

Apart from Slovakia, another 14 countries are also entitled to receive funds from the mechanisms. The money is used for support of entrepreneurship and innovations, projects concerning the fight to end climate change, preservation of cultural heritage, local development, inclusion of the Roma, transparency in judiciary, development of civil society and similar purposes. Endit