Website: The European Globalisation Adjustment Fund (EGF)

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Publication Date 2016
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The European Globalisation Adjustment Fund provides support to people losing their jobs as a result of major structural changes in world trade patterns due to globalisation, e.g. when a large company shuts down or production is moved outside the EU, or as a result of the global economic and financial crisis.

The EGF has a maximum annual budget of EUR 150 million for the period 2014-2020. It can fund up to 60% of the cost of projects designed to help workers made redundant find another job or set up their own business.

As a general rule, the EGF can be used only where over 500 workers are made redundant by a single company (including its suppliers and downstream producers), or if a large number of workers are laid off in a particular sector in one or more neighbouring regions.

EGF cases are managed and implemented by national or regional authorities. Each project runs for 2 years.

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Related Links
EUROPA: Summaries of EU Legislation: Employment and social policy: Priorities and objectives: the social agenda: European Globalisation Adjustment Fund (2014-20)
Wikipedia: The European Globalisation adjustment Fund

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