EU ministers conclude €93 billion funding arrangement for Erasmus+ and Horizon 2020

There are nearly six million young people unemployed in the EU today, with youth unemployment levels reaching above 50% in some member states such as Spain and Greece. In a rather stark illustration of the persistent labour market gaps in many world economies, the European Commission estimates there are now more than 2 million job vacancies across Europe. And yet, as reported in a recent survey of European employers, 40% of all EU companies have difficulties finding workers with the right skills.

This is the backdrop for a landmark budget agreement that was formally concluded yesterday by EU ministers. The agreement will see funding dramatically rise for two major initiatives – Horizon 2020 and Erasmus+ – targeted to research and student mobility.

The budget envelopes for both programmes will now grow considerably through 2020, rising 30% for Horizon 2020 to a total of €78.6 billion. Erasmus+ will grow by 40% over the same period to a total of €14.7 billion. The EU policy news site EurActiv reports that both programmes will launch within the next month.


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