Implementation of the European Progress Microfinance Facility — third annual report

More than 6000 entrepreneurs have already benefitted from loans worth a total of close to €50 million under the European Progress Microfinance Facility, according to the third annual report on this EU instrument. The report confirms that Progress Microfinance has significantly contributed to job creation, helping a high percentage of people who were previously unemployed or inactive into employment. In particular, microfinance facilitates self-employment and entrepreneurship among groups who typically have more difficulties to raise money, such as young people and minorities.

Press-release: http://europa.eu/rapid/press-release_IP-13-827_en.htm