The European Globalisation Adjustment Fund (EGF)
aims to support up to 60% of the cost of projects aimed to help workers made
redundant find another job or set up their own business as quickly as possible.
This is as a result of changing global trade patterns such as economic and
financial crisis as well as when a large company moves its production outside
the EU or shuts down completely.
The fund was launched by the European Union in 2007
and aims to provide up to of EUR 150 million a year for the period 2014-2020 in
support to eligible areas across the EU.
It is intended to complement the support already provided by employers and
national authorities in terms of active employment measures. It is not
intended to fund passive social protection measures such as retirement pensions
or unemployment benefits, which are the competence of the Member States.
A financial contribution
from the EGF may be made for active labour market measures that form part of a
coordinated package of personalised services, designed to facilitate the re-
integration of the targeted beneficiaries and, in particular, disadvantaged,
older and young unemployed persons, into employment or self-employment. The
coordinated package of personalised services may include in particular:
(a) tailor-made training
and retraining, including information and communication technology skills and
certification of acquired experience, job-search assistance, occupational
guidance, advisory services, mentoring, outplacement assistance,
entrepreneurship promotion, aid for self- employment, business start-ups and
employee take-overs, and co-operation activities;
(b) special time-limited
measures, such as job-search allowances, employers' recruitment incentives,
mobility allowances, subsistence or training allowances (including allowances
for carers);
(c) measures to stimulate
in particular disadvantaged, older and young unemployed persons to remain in or
return to the labour market.
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