EU launches education and skills financing scheme
During this difficult economic situation our society is facing many problems due to the coronavirus pandemic. In response, to the European economy's changing needs, many initiatives should be taken in order to support companies and students during, and after, the crisis, and to ensure investments in skills and education field.
The European Investment Fund and the European Commission have launched the Skills & Education Guarantee Pilot (S&E Pilot). This finance initiative will provide an EU guarantee of up to €50 million backed by the European Fund for Strategic Investments (EFSI), with the aim of mobilising more than €200 million in total financing
The main objective is to support financing for students and learners, enterprises investing in the upskilling of their employees, and organisations supplying education and training
The beneficiaries of the programme are:
- Individuals, such as students and learners, who can continue their studies through vocational training and lifelong learning
- European enterprises who can facilitate such skills
- European organisations in the field of skills development, training and education or developing projects in the education field
Financing institutions or providers of education and training who are interested can apply to become financial intermediaries and participate in the scheme by responding to the open Call for Expressions of Interest.
The initiative will be piloted in 2020 with the objective of becoming a mainstream European financial instrument after 2020, within the next EU multiannual financial framework (2021 – 2027)