This is a structural fund of the European Union (EU), which was established in 1957 in the Treaty of Rome. Its purpose is to promote employment and improve working conditions in the Member States, as well as to promote economic and social cohesion, mainly through subsidies or credits to the less developed States.
This fund represents approximately 10% of the total EU budget. One of its priorities is to boost the adaptability of workers, helping them to acquire new skills, and that of companies by encouraging new forms of work. Another of its main objectives is to improve access to employment, supporting young people and training the less qualified to improve their access to employment, in order to reinforce social inclusion.
It also tries to help people belonging to disadvantaged groups to find work, in order to collaborate in social inclusion.
It does this by funding tens of thousands of employment-related projects at local, regional and national levels throughout Europe.