Increasing the availability of microcredit through the European Progress Microfinance Facility

29.4.2015

Question for written answer E-006941-15
to the Commission
Rule 130
Aldo Patriciello (PPE)

Microfinancing is an essential tool for supporting European micro-enterprises during a period of serious crisis for the credit system, and for helping these businesses to develop.

Decision No 283/2010/EU of the European Parliament and of the Council of 25 March 2010, which established a European Progress Microfinance Facility for employment and social inclusion, enables selected micro-credit providers to issue loans of below EUR 25 000 to those wishing to set up or develop a small business.

The Facility aims to assist those who are in a disadvantaged position with regard to access to the conventional credit market, in particular the unemployed and micro-enterprises.

The Progress Facility’s budget for the period 2010-2013 was only in the region of EUR 100 million.

In light of this, does the Commission intend to bolster the financial resources dedicated to the support of this Facility, and, in particular, where will this money come from?