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EU trials education and skills financing scheme

Pilot intended to boost employment and economic recovery from the Covid-19 pandemic

The European Investment Fund and European Commission have launched a pilot financing scheme intended to facilitate investments in education and skills totalling up to €200 million.

The Skills and Education Guarantee Pilot, launched on 22 April, should increase employment and “respond to the European economy’s changing needs” as the bloc seeks to recover from the economic fallout of the Covid-19 pandemic, the Commission said.

“Investments in skills contribute to growth, competitiveness and social convergence,” said EIF chief executive Alain Godard. “By improving access to education and training opportunities, we can support a workforce that is more adaptable to the changing environments, which is even more crucial now in this time of crisis.”

The pilot is providing €50m in financing guarantees, through the EU’s European Fund for Strategic Investments. The Commission aims to make the scheme a “mainstream European financial instrument” in the EU’s 2021-27 budget.