PRESS RELEASE – EUROPEAN COMMISSION

The EU and the EEA EFTA States have signed the agreement on the EEA Financial Mechanism 2021-2028 and market access protocols

Today, the Commission, on behalf of the EU, signed a package of agreements and protocols on the European Economic Area (EEA) Financial Mechanism 2021-2028 with the three EEA European Free Trade Association (EFTA) States (Iceland, Liechtenstein and Norway) and two protocols for annual duty-free tariff quotas for some Icelandic and Norwegian fish and fisheries products entering the EU market. This follows the agreement reached in November 2023 at negotiators’ level and the endorsement by the Council on 25 June 2024.

For the period May 2021 to April 2028, the EEA Financial Mechanism will amount to more than pound 1.8 billion in grants awarded to projects for the 15 Beneficiary States (Bulgaria, Croatia, Cyprus, Czechia, Estonia, Greece, Hungary, Latvia, Lithuania, Malta, Poland, Portugal, Romania, Slovakia, Slovenia). In addition, the Norwegian Financial Mechanism provides more than po
und 1.4 billion to the 13 EU Member States that joined the Union from 2004 onwards.

Commission Executive Vice-President Maroš Šefcovic, who is notably responsible for relations with the EEA EFTA States, said: ‘This signature is another positive milestone, as we mark the 30th anniversary of the EEA Agreement this year. The EEA and Norwegian financial mechanisms reflect the benefits that the EEA EFTA States draw from their access to the EU single market. Now we need to ensure the implementation of programmes and projects in the Beneficiary States supported by the two financial mechanisms.’

The EEA Agreement is built on shared values and principles, and constitutes a factor of political and economic stability, as well as prosperity and security. The EEA Financial Mechanism 2021-2028 sets out the contribution of the EEA EFTA States to reduce the economic and social disparities in the EEA, in view of promoting a continuous and balanced strengthening of trade and economic relations, and as a complement to the EU’
s Cohesion Policy objectives. The thematic priorities are the European green transition; democracy, rule of law and human rights; social inclusion and resilience.

All sides will now proceed towards conclusion of the agreement in accordance with their respective procedures. Before its full application, the European Parliament will have to endorse the package.

(For more information: Balazs Ujvari – Tel.: +32 2 295 45 78; Veronica Favalli – Tel.: +32 2 298 72 69)

Commission opens in-depth investigation into alleged German State aid involved in the sale of the Nrburgring racetrack

The Commission has opened an in-depth investigation to assess whether the sale of the Nrburgring racetrack complex in Germany to Capricorn Nrburgring Besitzgesellschaft GmbH (‘Capricorn’) is in line with EU State aid rules. The measure was found to be in line with State aid rules in October 2014, but the Commission’s decision was annulled by the Court of Justice on 2 September 2021.

Following the Court’s judgment, the Commission wi
ll now further investigate the sale of the racetrack complex to Capricorn. In particular, the Commission will analyse: (i) whether the decision to sell the Nrburgring racetrack complex in the context of the insolvency procedure was imputable to the German State or not; (ii) whether various aspects of the tender process, in particular the possibly non-binding nature of Capricorn’s financing commitment, impacted the transparency and non-discriminatory nature of the process, resulting in an advantage to Capricorn; (iii) allegations relating to possible additional State aid to Capricorn after the tender, arising from the sale contract and from events following the sale, such as a reduction of the sale price and a payment deferral.

A press release is available online.

(For more information: Lea Zuber – Tel.: +32 2 295 62 98; Nina Ferreira – Tel.: +32 2 299 81 63)

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Source: Cyprus News Agency