EIF provides microcredit guarantee for Fonds de Participation in Belgium

A fourth transaction under the EIF’s new Microcredit Facility has been concluded today as EIF has signed a commitment to provide a EUR 5.25m guarantee to the Belgian Fonds de Participation (FdP). FdP’s microcredit programme will be the first nationwide programme in Belgium, and it will also be the first one supported by EIF. Having a special focus on combating unemployment, FdP offers direct loans to SMEs. The main aim of the microcredit programme (a combination of two loans) will therefore be to enhance access to finance to financially excluded people and contribute to self-employment and financial integration of the final beneficiaries.