On 26 May 2016 the Donor States (Norway, Iceland and Lichtenstein) signed the agreement with the European Union (EU) on the allocation of the financial assistance for the implementation of the EEA Financial Mechanism and Norwegian Financial Mechanism in the period 2014-2021. The overall objectives of the Financial Mechanisms 2014-2021 are to contribute to the reduction of economic and social disparities within the EEA and to the strengthen bilateral relations between the Donor States and the Beneficiary States.

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