09.06.2021
THE EP APPROVED THE RENEWED EUROPEAN SOCIAL FUND
The European Parliament has approved the rules for the functioning of the European Social Fund + (ESF +) until 2027. The new program with a budget of 88 billion euros focuses on helping children and young people to fight poverty and unemployment in the EU.
The fund will support access to free education, quality food and a home for children. It will also support the organization of practical traineeships and trainings for unemployed young people.
Social issues are a major concern for many. The European Social Fund + will promote the social inclusion of people who have lost their jobs and incomes, and will provide food and basic assistance to those most in need.
The European Social Fund is the EU's oldest financial instrument for improving people's job opportunities and raising their standard of living.
The EU distributes funding from the fund to Member States and municipalities. The funds go to improving employment, eliminating weaknesses in education, measures against poverty and social exclusion.
Beneficiaries are usually individual workers; young people; job seekers; people in economic difficulties.
Companies and organizations can also benefit from funding.
The renewed fund brings together a number of existing programs:
ESF + will invest in three main areas:
The fund will also support the acquisition of skills needed for new jobs related to the transition to a green economy and digitalisation.
Each Member State will need to allocate sufficient funding to tackle child poverty. Countries with high levels of child poverty will have to spend at least 5% of ESF + resources to support children in various areas, from access to free education to decent food and housing.
Countries with above-average youth unemployment must invest at least 12.5% of their resources to help young people find work.
