Applications made by publishers or publishing houses wishing to translate the works of authors who have won the European Union Prize for Literature are encouraged.
Furthermore, in order to foster European integration, special attention will be given to the circulation of literary works written in languages of countries that have joined the European Union since 2004.
Read more about the application procedure here: http://eacea.ec.europa.eu/culture/funding/2010/call_strand_122_2010_en.php
Here's the overview of previously supported translations: /culture/our-programmes-and-actions/projects-and-actions-supported_en.xml
Interested in the EU's Prize for Literature? Read more about it here: /culture/our-programmes-and-actions/literature-prize_en.xml