The Commission has proposed rules to make the Youth Employment Initiative a reality. This new instrument with a budget of €6 billion for the period 2014-20 was proposed in February by the European Council.
The Youth Employment Initiative would particularly support young people not in education, employment or training by integrating them into the labour market. It provides extra financing in the Union's regions with a youth unemployment rate in 2012 at above 25%.
The money under the Youth Employment Initiative would therefore be used to reinforce and accelerate measures outlined in the December 2012 Youth Employment Package. In particular, the funds would be available for EU countries to finance measures to implement in the eligible regions the Youth Guarantee Recommendation agreed by the EU's Council of Employment and Social Affairs Ministers on 28 February. Under the Youth Guarantee, Member States should put in place measures to ensure that young people up to age 25 receive a good quality offer of employment, continued education, an apprenticeship or a traineeship within four months of leaving school or becoming unemployed.
The Youth Employment Initiative would be complementary to other projects undertaken at national level, including those with ESF support, with a view to setting up or implementing the youth guarantee schemes, such as reforming the relevant institutions and services.
Of the funding, €3 billion would come from a dedicated Youth Employment budget line complemented by at least €3 billion more from the ESF. Given the current budgetary difficulties of many countries, they would only need to top up the ESF contribution with their own co-financing.