Balearic President, Francina Armengol made the announcement at an event held at the University of the Balearic Islands.
The funds are from the recovery and resilience mechanism to deal with the aftermath of the Covid pandemic.
The SOIB Recerca programmes aim to promote the recruitment of young graduates in the research field; SOIB Joves Qualificats for hiring children under 30 with higher education and SOIB Orientació Plus for personalised guidance and work support itineraries for groups that are particularly vulnerable.
Investing in these programmes is the first labour measure to be presented through the Next Generation mechanism and will be included in the 2022-2025 Quality Employment Plan.
President Armengol and Government spokesperson and Tourism Minister, Iago Negueruela said young people are a priority.
"Many young people have just finished their studies and either don’t have a career, have suffered one crisis after another or have emancipation problems," said President Armengol.
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