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EEA Financial Mechanism and Norwegian Financial Mechanism

The European Free Trade Association (EFTA) was founded in 1960 to promote free trade as a means of achieving growth and prosperity among its Member States, closer economic co-operation between the Western European countries, and the expansion of global trade. Today the EFTA members are Iceland, Liechtenstein, Norway and Switzerland.

In order to continue a close co-operation between European countries in trade area the European Economic Area (EEA) was established. The EEA Agreement entered into force on 1 January 1994. The EEA 18 became the EEA 28 on 1 May 2004, when 10 new countries became members of the EU. The two financial mechanisms were created as part of the EEA Enlargement Agreement.

Under the EEA Enlargement Agreement two new financial instruments will be available for several EU countries, including Latvia: EEA Financial Mechanism and Norwegian Financial Mechanism.

Although the two Mechanisms are closely coordinated, decisions on the granting of assistance are taken separately with each entity being responsible for the management of its own decisions. Decisions on the granting of assistance by the EEA Financial Mechanism are taken by the EEA Financial Mechanism Committee (the FMC) in Brussels. Decisions on the granting of assistance by the Norwegian Financial Mechanism are taken by the Norwegian Ministry of Foreign Affairs. To unify the implementation of both Financial Mechanisms EFTA secretariat has established Financial Mechanism office (FMO) in Brussels, which administrates both Financial Mechanisms.

To ensure the implementation of the Norwegian Financial Mechanism and the EEA Financial Mechanism two Memorandums of Understanding - between the Kingdom of Norway and the Republic of Latvia (on the subject of the Norwegian Financial Mechanism) and between the Republic of Iceland, the Principality of Liechtenstein, the Kingdom of Norway and the Republic of Latvia (on the subject of the EEA Financial Mechanism) have been signed.

National Focal Point (NFP) has the overall responsibility for the management of the EEA Financial Mechanisms’ activities in the Republic of Latvia, as described in this Memorandum of Understanding (MoU) and the Rules and Procedures adopted by the Financial Mechanism Committee, including overall responsibility for the use of funds, financial control and audit.

Certain tasks of NFP are entrusted (in form of agreement) to the Central Finance and Contracting Agency (CFCA). The CFCA is a state agency under supervision of the Ministry of Finance. Its main functions are to:

  • conclude agreements with the beneficiaries on project implementation;
  • supervise and control the implementation of projects in accordance with the agreements concluded with the beneficiaries and carry out the necessary controls;
  • check requests for reimbursement and verify the authenticity and correctness of submitted documents;
  • prepare expenditure declarations and submit them to the Paying Authority (the Treasury);
  • report to the NFP on progress of implementation of projects;
  • detect irregularities and report them to the NFP;
  • store all documents relating to projects realised within the EEA Financial Mechanism.

More information...

page last updated: 11.10.2013.
Meistaru street 10, Riga
Phone: (+371) 66939777
E-mail: info@cfla.gov.lv
Central Finance and Contracting Agency,
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Riga (Vecriga),

E-mail official correspondence cfla@cfla.gov.lv
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