Cabinet of Ministers approves the Law on the Management of EEA and Norway Grants
On Tuesday, January 30, the Cabinet of Ministers (hereinafter - the Cabinet) approved the Law on the Management of the European Economic Area (EEA) and Norway Grants drawn up by the Ministry of Finance (MoF). Its purpose is to determine the general principles of financial instrument management in Latvia in the new period.
The amount of the financial instrument funding of Norway and the EEA will be approximately 40% greater than in the previous period by providing significant aid for strengthening correction services and the system capacity of internal affairs, education and research, regional development and poverty reduction of Latvia, climate change management, entrepreneurship and cultural development, and also aid to non-governmental organisations and strengthening of bilateral co-operation and promoting proper work.
"We can be proud that in the previous financial period of the EEA and Norway Grants, very significant projects have been implemented in Latvia, which have provided very concrete results that would strenghten the growth of latvian people. Adoption of the management law for the new financial period allows us to work very precisely towards the project implementation, while continuing to further strengthen Latvia's bilateral relations with donor countries in various fields, "emphasizes MoF State Secretary Deputy Head Armands Eberhards.
The institutions involved in the financial instrument management, their rights and obligations, procedures for decision-taking, and also delegation to the Cabinet to issue regulations regarding the financial instrument management, supervision, control, audit, programme implementation and other aspects related to the ensuring financial instrument management are determined by this Law.
The Ministries responsible for each of the priorities shall prepare a conception of the programme which is to be submitted to the Cabinet, and also co-ordinated with donor countries. Along with the programme approval process, the MoF shall work with the establishment of the regulatory framework. The actual implementation of the projects is planned in 2019.