The European Parliament today approved a proposal to increase the initial pre-financing amount of the European Youth Employment Initiative (1). After the vote, Green employment and youth spokesperson Terry Reintke said:
"This will give a welcome boost to the Youth Employment Initiative and hopefully address the limited uptake of the scheme so far. The increased pre-financing rate should make it easier for cash-strapped regions to participate and we hope this is now swiftly implemented, so the benefits can filter through to young people who are struggling to find jobs.
"With crisis-hit EU member states those most affected by rocketing youth unemployment, EU support is essential. The vote by the European Parliament today is a strong signal. Now it is up to the member states to stop finding excuses and start acting. The over 7 million young people in the EU currently not in employment, education or training need to be given some kind of perspective."
(1) The European Youth Employment Initiative (YEI) aims to support particularly young people not in education, employment or training in regions with more than 25 % youth unemployment. It is funded by 3.2 billion EUR from the European Social Fund (ESF) and 3.2 billion EUR from a dedicated Youth Employment budget line. The proposal by the European Commission, which has been approved by the European Parliament today, is aimed at increasing the pre-financing amount for the ESF allocation of the YEI from 1-1.5 % to 30 %. The increase would allow make it easier for member states to quickly set up projects in their regions.