Monday, February 18, 2008

Romania to receive 4.25 bln eur European Social Fund to promote employment

BUCHAREST (Thomson Financial) - EU Commissioner for Employment, Vladimir Spidla, and Romanian Employment Minister Paul Pacuraru have launched the European Social Fund (ESF) for Romania, which will allow the country to receive 4.25 bln eur over seven years to stimulate employment.

A total of 175 mln eur will be available initially, aimed to improve access to the jobs market for the unemployed and disadvantaged and people living in rural areas, with around 1.6 mln Romanians likely to benefit from the funds between now and 2013.

Romania is suffering from a shortage of labour, as some 2 mln Romanians have emigrated in search of higher wages.

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