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1 December 2021
Employment and social policy Files concluded News

European Globalisation Adjustment Fund: Council agrees its position

The Council today agreed its position (partial general approach) on the European Globalisation Adjustment Fund (EGF). The fund is designed to support Member States where unexpected major restructuring events occur as a result of globalisation-related challenges. Among these are changes in world trade patterns, trade disputes, financial or economic crises or the transition to a low-carbon economy.

Pending further progress on the next multiannual financial framework (MFF), today’s agreement does not cover the budgetary aspects or provisions of horizontal nature.

The EGF has proved to be an important tool to allow the Union to support member states in unforeseen circumstances on the labour market. We want the fund to continue to provide financing for the improvement of the skills and employability of workers across the EU who have lost their jobs.

Marius-Constantin Budăi, Minister of Labour and Social Justice of Romania

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