merrion street

The Minister for European Affairs, Lucinda Creighton T.D., welcomes the approval by the European Parliament Budgets Committee of aid totalling €35.7 million from the EU Globalisation Adjustment Fund (EGF) to support workers who have lost their jobs in Ireland.

Ireland had filed three applications concerning almost 6000 people who were laid off from almost 3000 companies active in construction, architecture, engineering and technical testing. The EGF will provide the funding to help the Irish workers find their way back into the labour market.

Minister Creighton said: "This is very important and very welcome funding for Ireland and demonstrates a positive aspect of EU membership – the support of our neighbours. As a small export-oriented economy, Ireland suffered from the credit crunch's impact on its major trading partners. Banks were severely hit, with knock-on effects on mortgage loans and building activity in the country. Any funding that will help those who have lost their jobs is very welcome."

EGF aid helps find new jobs for workers made redundant due to major structural changes in world trade patterns caused by globalisation or the financial crisis. Its annual ceiling is €500 million.