The Netherlands Organisation for Scientific Research has launched a €1 million fund to support open access journals.
Here's an excerpt from the press release:
The Netherlands Organisation for Scientific Research (NWO) has made one million euros available for setting up open access journals or for the conversion of existing journals to an open access model.
Providing financial incentives to open access journals is a new initiative within NWO's open access policy. Academic researchers from every discipline can now apply for one-off funding for setting up a new open access journal (maximum 45,000 euros per proposal) or for converting an existing journal into an open access model (maximum 22,500 euros per proposal). The deadline for submitting proposals is 4 October 2011. Further information about this funding instrument and the specific conditions that apply to it can be found at www.nwo.nl/openaccess.