Bulgaria Gets EU Globalization Fund Aid for Steel Giant Layoffs

Laid-off workers of Bulgaria's steel giant Kremikovtzi will be re-trained and motivated with money from the European Globalizaiton Adjustment Fund. Photo by BGNES

Bulgaria is going to get BGN 5 M from the European Globalization Adjustment Fund in order to help the workers laid off from its ailing steel giant Kremikovtzi to find new jobs.

This has been announced Sunday by Labor Minister, Totyu Mladenov, who explained that the EGAF required 35% co-financing by the state, as cited by the Pari Daily.

Thus, the several thousand workers who might be laid off from the bankrupt steel plant could be enrolled in qualification courses with the Labor Ministry including motivation training, professional orientation, subsidized employment for people over 50, and a small grant of BGN 10 000 if they want to start a business.

The money from EU's Globalization Adjustment Fund cannot be used for paying unemployment benefits.

 

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