The aim of the European Parliament Preparatory Action (EPPA) is to foster the development of micro-credit in Europe on a sustainable basis, complementing other EIF and European Commission’s initiatives in the microfinance sector: Progress microfinance and JASMINE technical assistance.
The EUR 4 million budget allocated to EPPA, is used to provide seed funding and other financial support to selected EU non-bank MFIs focusing on social cohesion. It aims at helping them reaching a meaningful size and scalability in their operations, thereby also improving access to finance for micro-borrowers who typically have very limited or no access to traditional financial services.
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