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CEB to back Roma-led businesses in SEE via 3 mln euro loan

CEB to back Roma-led businesses in SEE via 3 mln euro loan

SKOPJE (N. Macedonia), August 1 (SeeNews) - The Council of Europe Development Bank (CEB) said on Monday it will provide 3 million euro ($3.1 million) in loans to Bulgaria, North Macedonia, Romania and Serbia to improve access to funding for entrepreneurs from Roma communities.

The funding will be disbursed to micro-lenders in the four Southeast European countries through Luxembourg-based organisation REDI Economic Development SA (REDI), which focuses on Roma populations, CEB said in a press release.

The micro-lenders will further on-lend the funds to Roma businesses to finance eligible direct costs of fixed assets, production equipment and working capital.

"The CEB loan is expected to address the persisting financial and social exclusion, poverty and barriers to labour market inclusion of Roma population, all of which were exacerbated by the COVID-19 pandemic," the CEB noted.

($ = 0.9746 euro)

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