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Thursday, April 1, 2010

Copy Of Email From EU Commission
re. new European Microfinance Facility
Date:1 April 2010
Subject:query on Micro Finance 1923

Dear Sir,

Thank you for your message.
The European Commission is indeed setting up a new European Microfinance Facility increasing the supply and accessibility of microloans for vulnerable groups and unemployed wanting to set up or further develop their own business. The Facility is especially targeted at those who might not normally obtain credit to access to funds in the current context of reduced credit supply.

The Facility will be operational from June 2010
. Under the Facility, the European Investment Fund will make funding available for providers of microloans in the Member States to reach out to the audience targeted by the European Microfinance Facility. These providers can be banks, not-for-profit micro lenders or institutions providing guarantees and other providers of microfinance products to microenterprises. After a first selection has taken place, the names of the providers will be published on the Commission's website in the second half of 2010:More

Accompanying measures will be developed under the European Social Fund. Information on the European Social Fund can be found at the following website: More

Paola Pizzuti
Personal Assistant to Mr Paul Glynn
Adviser to the Director for the Resources and Communication
DG Employment, Social Affair and Equal Opportunities
3, Rue de SPA-1049 Bruxelles
SPA3 00/62
Tel.: (02) 29 63100

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