PROGRESS Microfinance Facility - PMF
- Reference: 20100150
- Release date: 30 March 2010
The European Investment Fund will manage the funds provided by the European Commission and the EIB
- Luxembourg
The PMF will consist of a fund targeting microfinance institutions, including banks, which will address a mix of social, economic and financial objectives.
By supporting microfinance institutions, the initiative is intended to benefit self-employed persons, microenterprises (especially in the social economy) and microentrepreneurs starting or expanding their businesses as a way of countering unemployment and social exclusion in the EU in the context of the financial crisis.
- Services
Up to EUR 100 million.
Total cost (Approximate amount)Not applicable.
Environmental aspectsFinal beneficiaries will be requested to comply with applicable national and EU legislation, as appropriate.
Final beneficiaries will be requested to comply with applicable national and EU legislation, as appropriate.
Signed - 30/11/2010.
Disclaimer
Before financing approval by the Board of Directors, and before loan signature, projects are under appraisal and negotiation. Therefore data provided on this page is indicative and cannot be considered to represent official EIB Policy (see also the Explanatory notes).
