PURPOSE: to increase the initial pre-financing amount paid to operational programmes supported by the Youth Employment Initiative (YEI).
LEGISLATIVE ACT: Regulation (EU) 2015/779 of the European Parliament and of the Council amending Regulation (EU) No 1304/2013, as regards an additional initial prefinancing amount paid to operational programmes supported by the Youth Employment Initiative (YEI).
CONTENT: this Regulation introduced an additional provision in Regulation (EU) No 1304/2013 on the additional initial pre-financing for operational programmes supported by the YEI.
In light of the persistently high levels of youth unemployment in the Union, the Youth Employment Initiative (YEI) was established to provide support to young persons not in employment, education or training in the most affected regions.
In order to address the budgetary constraints faced by Member States at the initial stage of the programming period and taking into account the urgent need to address youth unemployment and the specific features of the YEI, the Regulation increases the level of the initial prefinancing paid to operational programmes supported by the YEI in 2015 from 1% to 30%.
To ensure that the additional initial prefinancing amount is used for the immediate implementation of the YEI, that amount should be reimbursed to the Commission should the Union contribution from the YEI not amount to an adequate level in interim payment applications submitted to the Commission within 12 months after the entry into force of this Regulation.
ENTRY INTO FORCE: 22.5.2015.