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New social fund, double Erasmus funding in new EU Budget

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New social fund, double Erasmus funding in new EU Budget

EU Budget

(BRUSSELS) - For the next long-term EU budget, the EU Commission proposes to reinforce and better target several existing Funds including a new European Social Fund and double funding for Erasmus to EUR 30 bn.

Specifically, the Commission proposes to establish a renewed European Social Fund, the 'European Social Fund Plus' (ESF+), and a strengthened and more effective European Globalisation Adjustment Fund (EGF).

Both are geared to invest in people: helping them to be equipped with the right skills needed to deal with challenges and changes on the labour market.

For the period 2021-2027, the European Social Fund Plus would be worth €101.2 billion, and the Globalisation Adjustment Fund €1.6 billion. The Justice, Rights and Values Fund will be worth €947 million over 7 years and will further support the development of a European Area of Justice based on the rule of law and mutual trust and ensure people can enjoy their rights.

The Commission also proposes to double the funding for Erasmus to €30 billion for 2021-2027 and increase the budget for Creative Europe to €1.85 billion.

The Erasmus programme already enables millions of young Europeans to study, train or learn abroad while broadening their experience and awareness of Europe, and increasing their future chances on the job market.

With doubled funding, Erasmus will be even more effective in supporting key political objectives such as building a European Education Area by 2025, empowering young people and promoting a European identity through youth, education and culture policies. It will also be more inclusive reaching out to people from all backgrounds.

Beneficiaries will include school pupils, higher education students, trainees, teachers, trainers, youth workers, sports coaches, and also learners in vocational education and training and adult learning staff.

The main goal of the Creative Europe programme is to promote, strengthen and protect European cultural and linguistic diversity, cultural heritage and creativity, as well as the competitiveness of Europe's cultural and creative sectors. Culture plays a pivotal role in addressing key societal and economic challenges, especially in promoting active citizenship, common values, wellbeing, innovation, economic growth and job creation.

New Social Fund and Globalisation Adjustment 
Fund for the period 2021-2027 - questions & answers
Justice, Rights and Values Fund - background guide

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