In a move to ensure that the Youth Employment Initiative is implemented as rapidly as possible the European Commission has sanctioned €20 million pre-financing to Ireland. Ireland has an allocation of €68 million for the Youth Employment Initiative matched with another €68 million from the European Social Fund to give a total fund of €136 million. The pre-financing of €20 million is to ensure the Irish government have sufficient cash to get the programme up and running immediately.

This was stated by Independent MEP Marian Harkin following her intervention in the European Parliament in support of this proposal from the Employment Commissioner Marianne Thyssen.

"This pre-financing, which is available to all Member States, can be used to support the provision of traineeships and apprenticeships, further education and training, business start-ups, support for entrepreneurs and targeted wage and recruitment subsidies. This gives the Irish government a range of options to immediately kick-start job creation for young people specifically.

"However it is crucial that monies spent under the Youth Employment Initiative deliver real outcomes and real jobs - not just training and up skilling. Yes training is important but young people in Ireland need to see jobs being created by them and for them and this fund in conjunction with other EU funds such as the Microfinance Fund and the €300 billion Juncker proposal can be a start" Independent MEP Marian Harkin concluded.