BUDAPEST, Oct. 26 (Xinhua) -- Hungary is set to receive more than 92 billion forints (280 million U.S. dollars) in funding after signing agreements covering European Economic Area (EEA) Grants and Norway Grants on Monday, Hungarian news agency MTI reported.
The EEA and Norway Grants, funded by Norway, Iceland and Liechtenstein, aim to reduce economic and social disparities in 15 European Union countries and strengthen bilateral cooperation. Norway provides about 97 percent of the funding.
The agreements follow a 2014-2021 funding period in which Hungary did not receive that money because it failed to reach an agreement with the donor countries on the independent management of funding for civil society organizations.
At the signing ceremony in Budapest, Finance Minister Andras Karman said effective allocation required transparent rules, predictable decisions and accountable institutions.
"We are not afraid of scrutiny; independent oversight does not constrain us, it makes our decisions credible," Karman said.
Norwegian Foreign Minister Espen Barth Eide welcomed the agreements, saying Europe's future depended on cooperation, the rule of law and faith in democracy. ■
