In December 2009, Norway signed a new agreement with the EU on financial contributions for reducing social and economic disparities within the European Economic Area (EEA). Prior to this delayed signature, Fafo was asked to write a note on how to design a specific fund for decent work requested by Norwegian partners in the frame of the new agreement on EEA grants. In this note recently delivered to the Confederation of Unions for Professionals Norway (Unio), the Confederation of Norwegian Enterprise and the Norwegian Confederation of Trade Unions (LO); Fafo proposes some criteria apt to increase the probability of spurring long-term effects of the Norwegian grants in the labour markets of the receiving countries. Such a perspective puts less emphasis on alleviating the most acute shortcomings in the labour markets of the new Member states. It rather brings to the forefront how a structured collaboration between social partners contributes to a long-term strengthening of domestic labour markets. Finally, the note sketches how Norwegian experiences with social dialogue can be discussed in East and Central Europe as part of the proposed capacity building of industrial relations.