Microfinance: European Commission bases new activities on results of evers & jung study

In reaction to the ongoing financial crisis, the European Union will extend its activities in the area of microfinance.

The recent announcement of a new financing facility to help micro enterprises and unemployment starting their business to access micro-credits (loans up to 25.000 EUR) underlines the strong commitment of the Eurpean Commission towards the microfinance sector.

The new facility will be funded with 100 Mio EUR out of structural funds, and is bound to start its activity in the next months. It is part of a larger framework for action to foster employment throughout the Union.

In the official communication of the Commission a lot of reference is made to a market study on microfinance sectors in Europe conducted on behalf of the EIF by the European Microfinance Network (EMN). evers & jung was involved in this study as a lead partner. The study manages to identify the central needs of the sector regarding funding and capacity building.

Altogether an important step towards more sustainable and effective provision of microcredit for growth and employment in Europe.

More informations:

European Commission - News

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Martin Jung

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Martin Jung
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