InvestEU: Iceland and Norway join programme for green, digital and SME financing in Europe

The Commission has signed contribution agreements with Iceland and Norway under InvestEU, making them the first non-EU countries participating in the programme. This is an opportunity to continue and strengthen cooperation between the European Union (EU) and European Economic Area (EEA) by attracting private and public investment to advance common priorities like the green and digital transitions, research and innovation, and the competitiveness of the European economy. Icelandic and Norwegian project promoters will now be able to apply directly with implementing partners of the InvestEU Fund to receive financing, backed by the programme.

Together, the two contribution agreements are worth up to €490 million. This amount increases the EU budget compartment of the InvestEU programme. They cover financial products and projects under three InvestEU policy windows:

  • sustainable infrastructure;
  • research, innovation and digitalisation; and
  • small and medium-sized businesses (SMEs).

Iceland and Norway will participate in the InvestEU programme through implementing partners, which include the European Investment Bank (EIB), the European Investment Fund (EIF) and the Nordic Investment Bank (NIB).

RAPID, IP/23/2952, 31.5.2023
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