EUR 1 billion mark reached as the EU steps up support for micro-entrepreneurs

On the 27 October 2016, the European Commission annouced that help for supportting for micro-entrepreneurs reached 1 billion euros. Since the EU started its microfinance initiatives, more than 100 agreements have been signed with microfinance providers, to support over 100,000 micro-entrepreneurs in 23 EU member states.

This cooperation between the European Investment Fund (EIF), the European Commission, and microfinance providers aims to mobilise over EUR 1 billion of microfinance loans for micro-borrowers across the EU under Progress Microfinance and the EU Programme for Employment and Social Innovation (EaSI).