The European Social Fund and aid to Volvo

Believe it or not, Volvo is set to benefit from money coming from Europe. It seems this brand is profitable enough not to be receiving public aid, especially in a crisis as severe as this one, but if they were granted it, there must be a reason, that much is clear.

The point is that the European Social Fund is going to finance a programme to improve the competitiveness of Swedish companies, which includes Volvo Cars, AB Volvo and other suppliers of the brand, with a total of just under 3 million euros. The ESF and the competent local and regional authorities in Sweden reached the agreement not long ago.

With this money, more than 3,000 workers will have the opportunity to improve their competitiveness in the sector. Although it is not a specific plan for job creation, it is one for improving it and for the sustainable maintenance of the group of workers who will benefit from the plan.

The executives at Volvo are delighted with the news, as they have been looking for these funds for some time. Thomas Fleisher, Director of Government Affairs, says that the competitiveness of companies in this sector is a key weapon for their development and smooth operation. The share of the pie that Volvo Cars will receive will be around €600,000,

Source | Volvo