EIF and European Commission Launch New Capacity Building Initiative for Micro-cr...

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Dec 2016
Europe, December, 22 2016 - Through equity investments (such as seed financing, risk capital) mostly, EIF will support the development of these finance providers, for instance by opening a new branch, investing in human resources, developing a new IT tool or financing certain expenses. Ultimately, these investments will help increase the offer and opportunities for micro-borrowers and social enterprises.

The European Investment Fund (EIF) and the European Commission are announcing a new initiative to help micro-credit and social enterprise finance providers develop their businesses under the EU Programme for Employment and Social Innovation(EaSI).

The new ‘EaSI Capacity Building Investments Window’ will reinforce the capacity of selected financial intermediaries in the areas of microfinance and social enterprise finance. Through equity investments (such as seed financing, risk capital) mostly, EIF will support the development of these finance providers, for instance by opening a new branch, investing in human resources, developing a new IT tool or financing certain expenses. Ultimately, these investments will help increase the offer and opportunities for micro-borrowers and social enterprises.

Marianne Thyssen, EU Commissioner for Employment, Social Affairs, Skills and Labour Mobility, said: “I am happy to launch the EaSI Capacity Building Window which will help to streamline access to finance through structural measures. It will help selected financial intermediaries to develop their business on the long term and provide sustained access to funds to European micro-entrepreneurs and social enterprises. It responds to the needs of financial institutions that want to build up their capacity and reinforce the offer on the market. Through this instrument, we confirm our commitment to give a boost to jobs and growth and help the most vulnerable people in the labour market.”

EIF Chief Executive, Pier Luigi Gilibert, said: “I am confident that the EaSI Capacity Building Investments Window will be instrumental in strengthening the operational and institutional capabilities of micro-credit and social finance providers. Capacity building is fundamental for finance providers to be able to deliver on their investment objectives in an effective and sustainable manner. I am pleased to see that EIF will support those finance providers in creating an investment friendly environment.”

The implementation of the EaSI Capacity Building Investments Window is expected to reinforce the ecosystem for microfinance and social entrepreneurship whilst to catalyse additional investments in European economies and reflects the European Commission’s strong commitment to launch concrete initiatives aiming at boosting jobs, growth and investment.  



Source : New Europe
 

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