The European Globalisation Adjustment Fund
The European Globalisation Adjustment Fund (EGF) was implemented at the beginning of 2007, following the adoption by the European Parliament and European Council. This Fund targeted workers who had lost their jobs as a result of global trade patterns or as a consequence of the global financial and economic crisis; these funds provided them support in finding another job as quickly as possible. When a large enterprise shuts down or a whole sector loses many jobs in a region, the EGF assisted redundant workers by allowing them to stay in the labour market and to find new jobs.
In the short history of this Fund five projects have been successfully implemented in Lithuania within the sectors of furniture-manufacturing, clothing, textile, construction and electrical equipment. The assistance package offered from EGF to former workers included: the development of personalised employment plans, job-search assistance, training and re-training, promotion of entrepreneurship, outplacement assistance and training and job-search allowances. During the two period, from 2009 to 2011, the Agency administrated the European Globalisation Adjustment Fund with an allocation of 4,54 mln. Euro.