On 14 December 2017, representatives of the Ministry of Foreign Affairs of the Kingdom of Norway and the Ministry of Finance of Republic of Latvia signed the Memorandums of understanding on the Implementation of the European Economic Area (EEA) and Norwegian Financial Mechanism in 2014 - 2021.

The EEA and Norwegian financial mechanisms allocation ensured by Iceland, Lichtenstein and Norway represents an additional foreign financing for the national state budget, aimed at reducing economic and social disparities in the beneficiary states, as well as strengthening bilateral relations with the Donor States.

The memorandums provide to Latvia support in amount of 102.1 million euro, which, for both mechanisms in total, is by 29.15 million euros or 40 per cent more than in the previous period.

For the EEA and Norway financial instruments 2014-2021 programme “Research and Education” is allocated 17 058 824 EUR, from which 2 558 824 is Latvia national contribution.

In the framework of the programme three directions will be supported – Baltic Research programme, scholarships for students, academic and nonacademic staff of higher education institutions and development of innovations centres in regions of Latvia.

The concept note of the programme is under elaboration and harmonisation.