EU Adopts German Funding Program For Job Creation

The European Commission on Tuesday adopted German federal Operational Program for the implementation of the European Social Fund (ESF) in the 2014-2020 period to facilitate the creation of jobs.

According to a Commission statement, the program outlined the priorities and objectives to spend over 4.8 billion euros (about 6.13 billion U.S. dollars), of which over 2.6 billion euros (about 3.32 billion U.S. dollars) will come from the ESF, contributing to creating jobs and strengthening social cohesion across Germany.

European Union (EU) Commissioner for Employment, Social Affairs and Inclusion Laszlo Andor said he was happy to see that "Germany is placing particular emphasis on facilitating the transition from school to work for disadvantaged young people, helping the long-term unemployed get back to work and supporting social inclusion."

The main objectives of the German ESF Operational Program at federal level are the promotion of employment, social inclusion and education.
The ESF, worth over 80 billion euros (about 102.09 U.S. dollars) in the 2014-2020 period, plays a fundamental role in supporting EU member states' investment in human capital and thereby in strengthening the competitiveness of the European economy as it emerges from the crisis.

In 2014-2020, for the first time in the history of EU Cohesion Policy, a minimum budget representing at least 23.1 percent of Cohesion Policy funding at the EU level has been allocated to the ESF. (1 euro = 1.27 U.S. dollars) (Cihan/Xinhua)