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Home arrow About Us arrow Embassy of Greece in London arrow News arrow Greece to receive 160.2 mln euros in EU funds to support young employment

Greece to receive 160.2 mln euros in EU funds to support young employment

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Greece will receive 160.24 million euros from community funds earmarked to support young employment in Greece in the period 2014-2015, the European Commission said in a statement released in Brussels on Wednesday.

The funds, coming from a so-called “European Initiative for Youth Employment” with a budget of 3.0 billion euros, will be distributed to subsidized employment and training programs in European regions, where unemployment among young people surpassed 25 pct. All Greek regions, excluding the Ionian Islands, are eligible to receiving such funds.

The funds will be available from January 1, 2014 and must be absorbed by the end of 2015. National governments must submit their programs by the end of 2013.

The aim is to exclusively support young people, aged 15-30 years old, who are out of education, training or job. The European Union has earmarked 6.0 billion euros for programs to support unemployment among young people in its 2014-2020 budget.

Last Updated Thursday, 14 November 2013
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