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1 billion euro made available for the young unemployed

Feb 4, 2015 | News

(04 February) – Today the European Commission proposes to make 1 billion euro from the Youth Employment Initiative available as early as this year. This change will increase by up to 30 times the pre-financing Member States receive to boost youth employment – reaching up to 650 000 young people and helping them get into work, faster.

Today’s proposal would increase the Youth Employment Initiative pre-financing rate in its 2015 budget allocation from 1-1.5% to up to 30%.

Member States benefiting from this initiative could therefore receive a third of the 3.2 billion euro allocation immediately after the adoption of dedicated Operational Programmes. Member States are expected to make this funding available immediately to project beneficiaries through advance payments for projects, and this will be closely monitored.

The Commission estimates that this accelerated pre-financing could speed up immediate support and reach out to between 350 000 and 650 000 young people this year; at the current pre-financing rate, in contrast, this figure would be between just 14 000 and 22 000 young people.

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