Youth Employment Initiative: debate on plan to make €1 billion available in 2015
The latest plan to make €1 billion in Youth Employment Initiative YEI funding – i.e. one-third of the total for 2014-2020 - available in 2015 alone will be debated on Tuesday morning with Commissioner for Employment, Social Affairs, Skills and Labour Mobility oMarianne Thyssen. This plan could deliver a thirtyfold increase in the funding that EU member states receive in 2015 to help their efforts to get 650,000 young people into work.
Youth Employment Initiative (YEI) funding tops up European Social Fund (ESF) money in member states with regions where youth unemployment exceeds 25%.
Parliament and the Council would need to amend ESF rules to allow the plan to front-load YEI funding in 2015 to be put into effect.
NOTE FOR EDITORS
Youth Guarantee measures in in EU member states aim to reduce youth unemployment by accelerating the transition from school to work and helping to create jobs.
The YEI budget for 2014-2020 is €3.2 billion, to be matched by at least €3.2 billion from member states' European Social Fund allocations. The proposal would increase the YEI pre-financing rate in its 2015 budget allocation from 1-1.5% to up to 30%.
Member states benefiting from this initiative (Belgium, Bulgaria, Croatia, Cyprus, Czech Republic, France, Greece, Hungary, Ireland, Italy, Latvia, Lithuania, Poland, Portugal, Romania, Slovakia, Slovenia, Spain, Sweden, and the UK) could therefore receive a third of the €3.2 billion allocation immediately after the relevant dedicated operational programmes are approved.
Procedure: Commission statement followed by debate
Debate: Tuesday, 10 February
#YouthEmployment #YEI #ESF