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Friday, March 26, 2010

Query on EU Microfinance Credit Facility

Reply from Marian Harkin MEP

Dear Fergus,
Just to update you on the situation regarding the Microfinance Credit Facility. The European Parliament voted in favour of this facility in February of this year and the European Commission are now working with the European Investment Bank to put the facility in place. I am in contact with the Commission Representative on a regular basis following the progress of the package. It is envisaged that the package should come onstream in June of this year i.e. that it would be available through financial institutions to loan to entrepreneurs. As soon as we have any further information we will send it to you.

My particular interest is ensuring that Credit Unions have access to this money so that it can get to those people that the banks would not consider.
I will keep you informed as to what is happening and indeed I will be on the European Parliament delegation that will be meeting with Dell workers in Limerick on the 3rd and 4th of June in order to assess how the fund is working, so I'm sure I'll see you them. In the meantime, drop me an email at the beginning of May and if I have further new I will update you.

Marian Harkin MEP
European Parliament
60 Rue Wiertz
1047 - Brussels
Tel: 00322831631


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