EUROPA - Press Releases - Job creation: Progress Microfinance proves success as tool for micro-entrepreneur start-ups

EUROPA - Press Releases - Job creation: Progress Microfinance proves success as tool for micro-entrepreneur start-ups

The European Progress Microfinance Facility has proved to be a successful tool to create jobs, particularly amongst groups with difficulties to raise finance from more traditional sources, by helping start-ups by micro-entrepreneurs, according to the second annual report on its implementation, published today. Through this Facility twenty microfinance providers throughout the European Union have received guarantees or funding (debt or equity) to facilitate their lending to would-be micro-entrepreneurs worth €170 million over the coming two to three years.   (...)