The Youth Employment Initiative (YEI) is one of the main EU financial resources to support the implementation of the EU youth guarantee. The YEI is integrated into European Social Fund (ESF) programming as a dedicated priority axis within the ESF Programme for Employability, Inclusion and Learning 2014-2020 (PEIL). The specific YEI allocation for Ireland of €68m (for 2014 and 2015) is matched by equal amounts from our ESF allocation and from the Exchequer, giving an overall total allocation of €204m. All ESF activities, including YEI activities, are fully funded up-front by the Exchequer with the EU (ESF/YEI) funding being claimed in arrears.
Following the designation of the Irish ESF authorities, the first payment application in respect of the PEIL, which included €112m in respect of YEI activities, was submitted to the European Commission last November. Receipts of €67m were received from the Commission in respect of the YEI/ESF cofinancing contributions towards the YEI activities concerned.
There has been no loss of EU funding and the ESF authorities will continue to ensure that sufficient payment applications are submitted to fully drawdown the YEI funding allocations.
