The number of applications received by the European Union (EU) Globalisation Adjustment Fund (EGF) rose substantially as a result of the global economic crisis.

According to data from the European Commission, a total of €52.3 million was provided in grants to assist almost 11,000 former workers who lost their jobs.

Funding was provided to eight member states during 2009 and the number of applications jumped over the year six-fold as a result of the economic downturn and globalization, the third annual report on the EGF revealed.

Created to provide support and assistance for workers who lose their employment as a result of shifts in global trade, the EGF provides grants on application to schemes focused on areas such as job search assistance and retraining.

Commenting on the latest figures from the fund, EU commissioner for employment Laszlo Andor said: "Over the past three years, the EGF has become a key instrument in helping workers who have lost their jobs, particularly at this time of crisis."

However, he added that more needs to be done to improve the efficiency of the scheme and reduce the time it takes to process applications.

Posted by Alex Donnell