£37m EU-backed investment to unlock potential of young people in Wales

Posted On: 2nd March 2016

A new £37m EU-backed investment to help improve the career and life prospects of young people who are at risk of disengaging and falling out of education and training in Wales will be announced by Finance and Government Business Minister Jane Hutt.

The Minister, announcing the schemes – which are backed with £25.5m from the European Social Fund – said EU Funds are vital for creating a skilled and inclusive labour market and driving economic prosperity in Wales. money_drain_10430485Med2

Since 2007, EU projects delivering in Wales have assisted more than 15,800 businesses and some 604,500 individuals, of which at least 204,100 have gained qualifications and more than 64,700 have been helped into work.  EU funds have also helped create more than 11,900 businesses and some 34,700 jobs.

TRAC 11-24, led by Denbighshire County Council, will support young people in North Wales. Inspire2Achieve, led by Blaenau Gwent County Borough Council, will support young people in the South East Wales Valleys. The schemes will be delivered in partnership with Local Authorities and Further Education colleges, and will work closely with schools to identify and support those at risk of becoming disengaged from education and training.

Finance and Government Business Minister Jane Hutt said:
“We are making excellent progress in delivering the Structural Funds 2014-2020 programmes with some £580m of EU funds invested so far, driving a total investment of £1.2bn, and providing vital support for businesses, communities and people across Wales.”

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