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jun
25

€ 96 million for social and micro-entrepreneurs

Social and micro-enterprises will soon have access to over € 500 million in finance. This is the result of a new mandate agreement signed between the European Commission and the European Investment Fund (EIF). Support will be made available under the European Programme for Employment and Social Innovation (EaSI), which will provide a € 96 million guarantee for the period 2014-2020 which is expected to mobilise over € 500 million in loans.

The € 96 million EaSI Guarantee will offer credit risk protection for lending products provided to social and micro-enterprises. The previous Progress Microfinance initiative helped to create and preserve more than 47,000 jobs. EaSI will build on its successes.

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