The Hague- Signature ceremony on the occasion of the first Progress Microfinance agreement in The Netherlands

The Chief Executive of the EIF, Mr. Richard Pelly, and Managing Director of Qredits, Mr. Elwin Groenevelt, have signed a guarantee agreement and loan deal aimed at supporting micro-enterprises in the Netherlands. This is the first EU microfinance project in the Netherlands to allocate funds from several EU instruments to the Dutch Microfinance Institution Qredits. The agreement will allow the Dutch Microfinance Institution Qredits, to loan over EUR 20 million to micro-entrepreneurs in the Netherlands. Qredits hopes to extend support under EUR 25,000 to over 1,000 small businesses in the Netherlands, many of whom are higher risk borrowers and  face difficulties in accessing credit from traditional banking sources.

Princess Maximá of the Netherlands, EU Commissioner for Employment, Social Affairs and Inclusion, László Andor, and Dutch Deputy Prime Minister Maxime Verhagen all attended the launch event.

For more information please refer to the press release issued on the occasion of the launch event: EN |  NL

Press contact:

• EIF: David Yormesor, d.yormesor@eif.org - Tel. (00352) 4266 88 346