German government approves 500 million euro aid package to secure traineeship positionsChristian Fernsby ▼ | June 25, 2020
The German government approved a 500 million euros (564 million U.S. dollar) aid package to support small and medium sized enterprises (SMEs) that offer traineeship positions threatened by the coronavirus pandemic.
Aid German factory
German SMEs that were particularly affected by the pandemic would receive a premium of 2,000 euros for each training contract concluded for the training year 2020/2021 if the level of trainee positions was maintained, according to the government.
Those companies that even increased the number of training places would receive 3,000 euros for each additional training contract.
"We must not now allow the coronavirus pandemic to become a crisis on the training market. After all, today's trainees are our skilled workers of tomorrow," said Minister of Education and Research Anja Karliczek. Even before the coronavirus crisis, the Association of German Chambers of Industry and Commerce (DIHK) had warned that the shortage of skilled workers was the "greatest business risk" for many German companies. ■