EU makes €50 million available for education and skills development in pilot project

€50 million is being made available by the European Investment Fund and the European Commission to support improving education and skills for people across Europe. The pilot scheme of the Skills and Education Guarantee, which aims to help get more people into work and respond to the economic difficulties caused by the Covid-19 crisis, will begin this year, with an objective of establishing it more firmly after 2020.

Commissioner Margaritis Schinas, © European Union, 2020

Commissioner Margaritis Schinas, © European Union, 2020

European Commissioner, Margaritis Schinas, said, “With the potential to mobilise €200 million in investments in developing education and skills, the Skills and Education Guarantee Pilot is a stepping stone to more resilient and inclusive societies and economies while the EU recovers from the coronavirus pandemic. It can provide the necessary support to the development of learning opportunities and skills for some of the most critical sectors, such as health, education, security, the digital and the green economy. Opening the financing to learners, businesses and educational organisations will allow as many people and businesses as possible to reap the benefits.”

The pilot scheme will use debt financing to encourage investment in education and skills. Students and organisations will be able to access the scheme in the form of loans or deferred payments through banks, training organisations and universities.

More information about the Skills and Education Guarantee can be found on the website of the European Commission.

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