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

This Decision establishes the European Progress Microfinance Facility, which will provide EU resources to increase access to, and availability of, microfinance for:

(a) people who have lost or are at risk of losing their job, or who have difficulties entering or re-entering the labour market, as well as people facing the threat of social exclusion and vulnerable people who are in a disadvantaged position with regard to access to the conventional credit market and who want to start or further develop their own micro-enterprise, including self-employment;

(b) micro-enterprises, especially in the social economy, as well as micro-enterprises which employ people referred to in point (a).

The Facility will be open to public and private bodies established on national, regional and local levels in the Member States and which provide microfinance to people and micro-enterprises. It will provide resources for access to microfinance, and will actively promote equal opportunities for women and men.

The financial contribution from the EU budget for the period 1 January 2010 to 31 December 2013 will be €100 million.

Reference: 283/2010/EU

(Added 7 April 2010)