May 23th 2024 | 3:27

Bizkaia

The Basque Government will promote youth emancipation with financial aid of 300 euros per month in 2024

Miguel Castillo

May 4, 2023 | 4:09 p.m.

The new measure seeks to reduce the age of emancipation in the Basque Country from 30 to 28 years

Starting in 2024, the Basque Government will offer a direct aid of 300 euros per month for two years to young Basques, with the aim of promoting their emancipation. The lehendakari, Iñigo Urkullu, has signed the decree that begins the elaboration of the draft decree that will regulate this aid, as reported by the Executive in a note.

Basque Strategy 2030 for Youth Emancipation

This initiative is part of the Basque Strategy 2030 for Youth Emancipation, approved in March, whose goal is to reduce the average age at which young people leave the family home, from 30 to 28 years.

Requirements to access the grants

Young people interested in receiving this aid must meet the following requirements:

  • Having 25 and 29 years between.
  • Being in the process of emancipation.
  • Count on annual income of less than 28.000 euros.
  • Have a rental or purchase contract for a home on the free market, since the aid is not compatible with the enjoyment of officially protected housing.
  • Be registered in Euskadi the year prior to the application and three in the last ten years.

Impact on Basque youth

The launch of these grants represents a important advance for Basque youth, since it will facilitate access to housing and promote economic independence. In addition, it will allow young people to invest in their future and in the development of personal and professional projects.

Challenges and opportunities

Despite the benefits that this measure will bring, it also poses challenges. It is essential that the Basque Government monitor and adjust the program as necessary, to ensure its long-term success and sustainability.

On the other hand, this initiative could generate business opportunities in real estate and stimulate economic growth in the region. Developers and builders could take advantage of the increased demand for housing to offer affordable and sustainable solutions that are tailored to the needs of young people.

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