About the GLA as a Co-Financing Organisation
The GLA has unique status within the 2014 -2020 ESF Programme as it is the only local Co- Financing Organisation (CFO) to oversee a programme of projects that will directly benefit Londoners while meeting the objectives of Mayoral priorities.
The GLA was granted CFO status on 14th March 2016 following the successful delivery of their 2007-13 ESF programme.
What does the GLA do as a CFO?
CFO status allows the GLA to develop a suite of European Social Fund (ESF) co-funded projects that will benefit Londoners, while meeting the objectives of Mayoral priorities.
The GLA CFO is responsible for:
- publicising project opportunities and awarding grants
- management of delivery to ensure that funding is spent appropriately
- providing 50% of the funding, which is matched with 50% ESF funds to provide 100% of the cost of delivery
- developing and delivering projects that meet the specific needs of London LEP ESIF Strategy
- ensuring that the ESF provision funded reflects regional objectives and complements existing domestic employment and skills funding
What is European Social Funding?
The European Social Fund (ESF) forms part of the European Structural and Investment Funds for 2014-20 and provides 50% of the funding to support projects that aim to improve employment opportunities across the EU, raise living standards and assist people to get better skills and job prospects
The ESF is a key part of the Europe 2020 strategy for jobs and smart, sustainable and inclusive growth. It supports the EU's goal of increasing employment by giving unemployed and disadvantaged people the training and support they need to enter jobs.
ESF also equips the workforce with the skills needed by businesses in a competitive global economy.