Table of Contents:
European Progress Microfinance Facility
Outline of the Community (European Union) legislation about European Progress Microfinance Facility
Topics
These categories group together and put in context the legislative and non-legislative initiatives which deal with the same topic.
Employment and social policy > Social inclusion and the fight against poverty
European Progress Microfinance Facility (EPMF)
Document or Iniciative
Decision No 283/2010/EU of the European Parliament and of the Council of 25 March 2010 establishing a European Progress Microfinance Facility for employment and social inclusion.
Summary
The new European Progress Microfinance
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Facility (EPMF) aims to support the creation and development of small enterprises and self-employment in the European Union (EU).
This facility is aimed at persons encountering difficulties in accessing conventional credit. It applies to:
- the unemployed, persons at risk of losing their jobs, the non-working population, persons facing the threat of social exclusion and vulnerable persons;
- micro-enterprises *, especially those in the social economy or those which employ socially-excluded persons.
Finance is allocated to public and private microfinance providers from EU countries. The EPMF is implemented through:
- guarantees and risk-sharing instruments;
- equity instruments;
- debt instruments;
- support measures, such as communication activities, monitoring, control, audit and evaluating the implementation of the facility.
The EPMF budget is EUR 100 million for the period 2010-2013. It shall be implemented in close cooperation with the European Investment Bank (EIB), the European Investment Fund (EIF) and international financial institutions.
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References
| Act | Entry into force | Deadline for transposition in the Member States | Official Journal |
|---|---|---|---|
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Decision 283/2010/EU |
8.4.2010 |
– |
OJ L 87 of 7.4.2010 |