What does ESF mean in United Nations?

European Social Fund

The European Social Fund (ESF) is the European Union's main financial instrument for supporting employment in the member states of the European Union as well as promoting economic and social cohesion. ESF spending amounts to around 10% of the EU's total budget. The ESF is one of the European Structural and Investment Funds (ESIF), which are dedicated to improving social cohesion and economic well-being across the regions of the Union. The funds are redistributive financial instruments that support cohesion within Europe by concentrating spending on the less-developed regions. The particular aim of ESF spending is to support the creation of more and better jobs in the EU, which it does by co-funding national, regional and local projects that improve the levels of employment, the quality of jobs, and the inclusiveness of the labour market in the member states and their regions.

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