LJUBLJANA (Slovenia), October 4 (SeeNews) – The European Investment Fund (EIF) and the Slovene Enterprise Fund (SEF) have signed their first microfinance guarantee agreement aimed at supporting micro enterprises in Slovenia under the EU Programme for Employment and Social Innovation (EaSI) with 21 million euro ($23.4 million), the European Commission has said.
The microfinance agreement enables SEF to provide loans worth a combined 21 million euro for a period of 2.5 years to micro-entrepreneurs, many of whom face difficulties in accessing finance, the European Commission said in a statement on Monday.
The microfinance guarantee transaction will support the promotion of entrepreneurship in the country, especially in rural areas, for young people and women, as well as focusing on the development of certain sectors such as creative industries or enterprises which maximise on Slovenian natural resources, the Commission said.
"Thanks to EU funding, 1000 micro entrepreneurs in Slovenia, including in rural areas, will be able to access preferential loans worth 21 million euro. The unemployed people and those at risk of poverty will be able to create their own jobs with this support", EU commissioner for employment, social affairs, skills and labour mobility, Marianne Thyssen, said in the statement.
The program will have a dedicated focus on deprived areas characterised by high unemployment rates. It will also allow microenterprises easier access to affordable sources of funding through lower interest rates, grace periods for loan repayment and a simplified credit approval procedure.
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