The efforts of those involved in providing finance to back 1,500 workers in Sweden have been praised by a European Union (EU) commissioner.

Speaking at a conference in Gothenburg, Laszlo Andor noted that a project assisting Volvo is one of the first to benefit from new rules adopted by the European Globalisation Adjustment Fund.

A total of €15 million has been made available, with €5 million coming from Sweden and the rest from Europe, while aspects of the scheme - such as older workers acting as mentors to younger employees - were hailed.

"I would like to congratulate the Swedish authorities for presenting such an excellent project," said Mr Andor. "It has given us some new ideas, providing inspiration not only for me and my colleagues but also for other applicants."

The commissioner made the comments ahead of a visit to the site to see how the project has been developing.

Last week, funding of €8.5 million aimed at supporting more than 2,000 workers in Spanish construction was approved by the European Commission.

Posted by Alex Donnell