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Date: 27-Feb-2025 Category: Not Applicable State: Union Government Country: Europe

Decision of the Standing Committee of the EFTA States No 4/2024/SC of 24 October 2024 amending Decision of the Standing Committee No 4/2004/SC establishing a Financial Mechanism Committee [2025/402]

Issued by Standing Committee of the EFTA States · Not Applicable

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Executive Summary & Key Takeaways

Key Changes

  • The Committee will now manage the EEA Financial Mechanism for the periods 2004-2009, 2009-2014, 2014-2021, and 2021-2028.
  • Article 1 of Decision No 4/2004/SC is amended to include the EEA Financial Mechanism 2021-2028 within the Committee's management responsibilities.
  • The decision enters into force on the day of entry into force or provisional application of the Agreement on an EEA Financial Mechanism for the period 2021-2028, signed on 12 September 2024.

What it means

  • Decision No 4/2024/SC of the Standing Committee of the EFTA States amends Decision No 4/2004/SC, which established a Financial Mechanism Committee. The amendment expands the Committee's responsibilities to include managing the EEA Financial Mechanism for the period 2021-2028.

Impact Analysis

EFTA States

  • Action Item: EFTA States need to ensure their internal processes align with the updated responsibilities of the EEA Financial Mechanism Committee.

EEA Financial Mechanism Committee

  • Action Item: The Committee needs to prepare for the expanded responsibilities, including staffing and resource allocation.

Beneficiary Countries

  • Action Item: Beneficiary countries should monitor the Committee's activities and engage in relevant consultations.

European Union

  • Action Item: The EU Commission should monitor the implementation of the EEA Financial Mechanism 2021-2028.

Key Entities Referenced

Standing Committee of the EFTA States: The governing body of the European Free Trade Association (EFTA). EEA Financial Mechanism Committee: A committee established to manage the EEA Financial Mechanism. EEA Agreement: The Agreement on the European Economic Area. Agreement on an EEA Financial Mechanism 2021-2028: The agreement between the European Union, Iceland, the Principality of Liechtenstein and the Kingdom of Norway on an EEA Financial Mechanism for the period 2021-2028. Decision of the Standing Committee No 4/2004/SC: Decision establishing a Financial Mechanism Committee. Protocol 38d on the EEA Financial Mechanism (2021-2028): Protocol inserted into the EEA Agreement by the aforementioned Agreement between the European Union, Iceland, the Principality of Liechtenstein and the Kingdom of Norway on an EEA Financial Mechanism 2021-2028
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Official Journal EN of the European Union L series 2025/402 27.2.2025 DECISION OF THE STANDING COMMITTEE OF THE EFTA STATES No 4/2024/SC of 24 October 2024 amending Decision of the Standing Committee No 4/2004/SC establishing a Financial Mechanism Committee [2025/402] THE STANDING COMMITTEE OF THE EFTA STATES, Having regard to the Agreement on the European Economic Area, hereinafter referred to as the EEA Agreement, Having regard to the Decision of the Standing Committee of the EFTA States No 4/2004/SC of 3 June 2004establishing a Financial Mechanism Committee, Having regard to the Decision of the Standing Committee of the EFTA States No 5/2010/SC of 9 December 2010amending Decision of the Standing Committee No 4/2004/SC establishing a Financial Mechanism Committee, Having regard to the Decision of the Standing Committee of the EFTA States No 2/2016/SC of 2 June 2016 amending Decision of the Standing Committee No 4/2004/SC establishing a Financial Mechanism Committee, Having regard to the Decision of the Standing Committee of the EFTA States No 1/2024/SC of 1 February 2024 establishing an EEA Financial Mechanism Interim Committee for the period 2021-2028, Having regard to the Agreement between the European Union, Iceland, the Principality of Liechtenstein and the Kingdom of Norway on an EEA Financial Mechanism 2021-2028, Having regard to Protocol 38d on the EEA Financial Mechanism (2021-2028), inserted into the EEA Agreement by the aforementioned Agreement between the European Union, Iceland, the Principality of Liechtenstein and the Kingdom of Norway on an EEA Financial Mechanism 2021-2028, HAS DECIDED AS FOLLOWS: Article 1 EEA Financial Mechanism Committee 2021-2028 In Article 1 of the Decision of the Standing Committee of the EFTA States No 4/2004/SC of 3 June 2004, the second sentence of paragraph 1 is replaced by the following: ‘The Committee shall manage the EEA Financial Mechanism 2004-2009, the EEA Financial Mechanism 2009-2014, the EEA Financial Mechanism 2014-2021 and the EEA Financial Mechanism 2021-2028.’ Article 2 Publication This Decision shall be published in the EEA Section of, and in the EEA Supplement to, the Official Journal of the European Union. ELI: http://data.europa.eu/eli/dec/2025/402/oj 1/2EN OJ L, 27.2.2025 Article 3 Entry into force and application This Decision shall enter into force on the day of the entry into force or on the day of provisional application of the Agreement on an EEA Financial Mechanism for the period 2021-2028, signed in Brussels on 12 September 2024. Done at Brussels, 24 October 2024 For the Standing Committee The Chair The Secretary-General Anders H. EIDE Kurt JÄGER 2/2 ELI: http://data.europa.eu/eli/dec/2025/402/oj

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