Today the European Commission will make almost 1 billion euro available for the young unemployed. The decision to exceptionally increase the pre-financing in 2015 for projects helping young people in Europe through the Youth Employment Initiative is unprecedented. It shows the urgency that we are facing, and the commitment of the EU to help young people get into work. Member States will now be able to finance projects rapidly, as the amount of pre-financing will be increased 30-fold. Thereby, Member States will be able to help up to 650,000 young people find jobs, apprenticeships, traineeships or continued education. I am convinced that this will work; positive results are already coming in from many Member States. The newly released funding will provide the necessary financial boost to make sure the actions supported by the Youth Employment Initiative happen fast. We owe it to young people throughout Europe to keep implementing reforms and launching support measures that respond to their needs. Today is a significant milestone on this path.
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