ESF and Match Funding
The European Social Fund (ESF) was set up to improve employment opportunities in the European Union and so help raise standards of living. It aims to help people fulfil their potential by giving them better skills and better job prospects.
The ESF is a key part of the Europe 2020 strategy for jobs and smart, sustainable and inclusive growth. ESF equips the workforce with the skills needed by business in a competitive global economy.
What is ESF Match Funding?
The Skills funding agency is a Co-Financing Organisation with a programme to tackle worklessness and workplace skills issues. To be able to draw down the ESF funds for projects, the skills funding agency needs to be able to fund an equal amount of similar activity from its other budgets – this is known as Match funding.
The Skills Funding Agency can use the Match funding secured to improve training, education and improve skills, to provide support for young people not in education, employment or training and apprenticeships.