The European Economic Area Grants

By entering the European Union Lithuania also joined the European Economic Area (EEA). The Agreement establishing the multilateral EEA Financial Mechanism (funds of Norway, Iceland and Liechtenstein) and bilateral Norwegian Financial Mechanism came into force on 1^st May 2004. In order to receive the assistance from both Financial Mechanisms, on 14^th April 2005 Lithuania signed the Memorandum of Understanding on the Implementation of the Norwegian Financial Mechanism 2004-2009 and on 22^nd April 2005 – the Memorandum of Understanding on the EEA Financial mechanism 2004-2009. The Memorandums established the institutional framework for the implementation of the Financial Mechanisms in Lithuania and indicated Lithuanian priority areas for assistance.