The European Globalisation Adjustment Fund operational in January 2014October 14, 2013
Funding Scheme: 2013-10-14
Pgm2014 2020: Yes
Today’s agreement by the Committee of Permanent Representatives (COREPER I) of the interinstitutional agreement on European Globalisation Fund will allow the Fund to operate as of January 2014.
The European Globalisation Adjustment Fund will provide support to those who lost their jobs as a consequence of major structural changes in world trade patterns due to globalisation or financial and economic crisis.
The Fund will substantially contribute to fostering employment, also for youth, as it is one of the most urgent targets to be achieved at EU level, and it is extremely important in the time of the economic and social recovery in the EU.
The Committee on 11 October approved the outcome of the last informal trilogue between the Lithuanian EU Council Presidency and the European Parliament of 30 September on the Proposal for a Regulation of the European Parliament and of the Council on the European Globalisation Adjustment Fund (2014-2020). The Committee authorised the Chair to send to the EMPL Committee of the European Parliament a letter containing the agreed compromise text.
The Lithuanian Presidency thanked the Danish, the Cyprus and the Irish Presidencies for their valuable contribution to reaching this result, and the European Parliament and the Commission for their cooperation in reaching this agreement on EGF together.
The Fund amounts to no more than 150 mln euros yearly in the period of 2014-2020. The Fund would co-finance 60 percent of active labour market measures by Member States in the regions which were hit by globalisation and economic crisis.
Url description: Lithuanian Presidency of the EU Council