European Commission and European Investment Fund mobilise funding support to European micro-enterprises

The European Commission and the European Investment Fund will today open up access to finance for microenterprises under the European Programme for Employment and Social Innovation (EaSI), which will provide a €96 million guarantee for the period 2014-2020 – expected to mobilise over €500 million in loans. Guarantee agreements will be signed between the European Investment Fund, which manages the EaSI guarantee on behalf of the European Commission, and six microfinance institutions in six countries. Marianne Thyssen, Commissioner for Employment, Social Affairs, Skills and Labour Mobility, said: “I congratulate the six microcredit providers which will sign their guarantee agreements today – easing access to finance for new microenterprises. Microfinance is an essential instrument to promote entrepreneurship and fight against social and financial exclusion. The Juncker Commission is committed to creating growth and jobs and today we are delivering concretely on this priority.” The guarantee agreements target those who wish to start or further develop their own micro-enterprises, in particular people who have difficulties in entering the job market or in accessing finance. A press release will be available at 17:30 with further details on the funding. A press conference with Commissioner Thyssen and Minister Nicolas Schmit can be followed live at 16:15 here.