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What is European Social Fund mean?
The European Social Fund+ (ESF+), created by merging the existing European Social Fund with the EU Fund for European Aid to the Most Deprived (FEAD) and the EU Programme for Employment and Social Innovation (EaSI) in 2021, is the European Union's main financial instrument for supporting employment in the member states of the European Union as well as promoting economic and social cohesion. ESF+ spending amounts to around 10% of the EU's total budget.
The ESF+ is one of the European Structural and Investment Funds (ESIFs), which are dedicated to improving social cohesion and economic well-being across the regions of the Union. The funds are redistributive financial instruments that support cohesion within Europe by concentrating spending on the less-developed regions.
The particular aim of ESF+ spending is to support the creation of more and better jobs in the EU, which it does by co-funding national, regional and local projects that improve the levels of employment, the quality of jobs, and the inclusiveness of the labour market in the member states and their regions.
referencePosted on 16 Dec 2024, this text provides information on Miscellaneous in Governmental related to Governmental. Please note that while accuracy is prioritized, the data presented might not be entirely correct or up-to-date. This information is offered for general knowledge and informational purposes only, and should not be considered as a substitute for professional advice.
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