SLOVAKIA will receive more than €70 million in grants from the European Economic Area, with as much as 95 percent of the assistance coming from Norway. The remaining 5 percent will come from Iceland and Liechtenstein, the SITA news agency wrote.
The financial aid will go towards bridging social and economic gaps in Slovakia, helping the country achieve full integration with the EU market, and improving cooperation between Slovakia and the donor countries.
Norway is not a member of the EU, but along with Iceland and Liechtenstein is a part of the European Economic Area (EEA). By providing financial aid chiefly to new EU members, these three countries secure their membership in the EEA, where they benefit from free trade.