Youth Employment Initiative: vote to make €1 billion available in 2015
European Social Fund rule changes needed to deliver €1 billion in EU funding this year to help member states get up to 650,000 young people into work will be debated on Tuesday evening and put to a vote on Wednesday. The changes would help kick-start member states’ schemes by concentrating up to 30% of EU Youth Employment Initiative payments towards them in 2015.
The EU Youth Employment Initiative tops up the European Social Fund (ESF) money in member states with regions where youth unemployment exceeds 25%. The changes will be put to the vote without amendments and, pending subsequent formal approval by the Council, should enter into force by July.
Note for editors
The Youth Guarantee Initiative is a set of measures in member states to accelerate the transition from school to work transitions and help create jobs for young people.
The YEI funding 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%.
Beneficiary member states could therefore receive a third of their YEI allocations as soon as the relevant operational programmes are approved. They are Belgium, Bulgaria, Croatia, Cyprus, Czech Republic, France, Greece, Hungary, Ireland, Italy, Latvia, Lithuania, Poland, Portugal, Romania, Slovakia, Slovenia, Spain, Sweden, and the UK.
Procedure: Ordinary Legislative Procedure, first reading
Debate: Tuesday, 28 April
Vote: Wednesday, 29 April
Press conference: Wednesday, 29 April at 14:30
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