MICRO-enterprise businesses in Limerick will now have access to a share in over €230M in EC funding after the European Investment Fund was opened recently.
The move now means that some €237million in loans will be mobilised to support in the region of 20,000 European micro-enterprises.
Distributed through Microfinance Ireland (microfinanceireland.ie), the distribution of such funds “is an essential instrument to promote entrepreneurship and fight against social and financial exclusion” according to Marianne Thyssen, Commissioner for Employment, Social Affairs, Skills and Labour Mobility.
EIF Chief Executive, Pier Luigi Gilibert said that this will help to support disadvantaged micro-entrepreneurs, many of which were previously unemployed.
The programme is currently available through six countries including Ireland and it aims to target those who wish to start or further develop their own micro-enterprises, in particular people who have difficulties in entering the job market or in accessing finance.
