ekonomie
Stem: Implementering van microfinanciering in die EU
Disadvantaged groups, including the long-term unemployed, social welfare recipients, those living in deprived rural areas, migrants or ethnic minorities, often encounter difficulties in accessing conventional finance. Microfinance offers them the possibility to obtain very small loans not generally provided by banks in order to assist them to start or develop their own small businesses.
In 2006 Muhammad Yunus and his Grameen Bank won the Nobel Peace Prize for offering such credit to the poorest in Bangladesh. In Europe on the other hand, the Europese Progress Microfinance Fasiliteit is funded by the EU budget and the European Investment Bank, and aims to improve the conditions under which borrowers can get loans. It also makes financing available for those who would not otherwise be able to obtain it.
The EU does not finance the entrepreneurs themselves but enables banks and non-bank financial institutions to grant more loans thanks to guarantees totalling €200 million.
This Tuesday Parliament's komitee indiensneming votes on a verslag on the implementation so far of the microfinance facility. Speaking this week, the author of that report German EPP member Sven Schulze referred to microfinance as a "sustainable social policy" and noted the importance of offering other assistance in addition to loans, including help with creating business plans or with bookkeeping.
Schulze added: "The instrument works as a whole but unfortunately sufficient funding is not always guaranteed. The Commission must therefore find a solution quickly in order to make Progress Microfinance even better in the future."
Find out more about the work of the employment committee.
Microloans are loans under €25,000.
Microenterprises employ fewer than 10 people with annual turnover not exceeding €2 million
Goal: To disburse €500 million in the form of 46,000 microloans by 2020
Banks and non-bank institutions in 22 member states offer microloans via the European Progress Microfinance Facility
The Facility runs until April 2016. Microcredits will then be covered by the Programme for Employment and Social Innovation (EaSI) (2014-2020).
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