Klass Molenaar
Associate Professor on Microfinance
United Kingdom
VNR: The EU adopts a new instrument on micro-credit
A new instrument was adopted by the EU : small loans and guarantees will be provided to people who have lost their jobs and want to start or further develop their own small business. The European Microfinance Facility will have an initial budget of €100 million which could leverage more than €500 million in cooperation with international financial institutions such as the European Investment Bank (EIB) Group.
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