The European Commission has made a payment to Spain from the European Globalisation Adjustment Fund (EGF). The amount of €1.6 million will help 876 former footwear workers back into employment.
The dismissals were the result of increased competition from shoes produced elsewhere in the world and compounded by the current economic crisis. China and India increasingly dominate the world trade in footwear, with countries such as Vietnam and Indonesia continuing to rise their share of world production.
This payment follows approval by the Budgetary Authority - the European Parliament and the Council - on 12 June 2012. The relevant proposal was made by the Commission on 4 May 2012.