The Microfinance facility and Social Entrepreneurship programme will:
- extend the support given to microcredit providers under the current European Progress Microfinance Facility (launched in 2010)
- provide funding for capacity-building of microfinance institutions
- support the development of the social investment market and facilitate access to finance for social enterprises.
The total proposed budget for the microfinance and social entrepreneurship axis is around €171.15 million for the period 2014-2020. Access to microfinance would receive €77.75 million, that could result in €400 to 450 million of microloans. Institutional capacity building would receive almost €8 million and €85 million would be dedicated to support social entrepreneurship.
Note the budget has been trimmed to €85m from the projected €95m!
In January 2015 the Commission & EIF launched Fi-compass, an advisory site about financial instruments in the Structural funds and EaSI: http://www.fi-compass.eu/
It "is designed to support ESIF managing authorities, EaSI microfinance providers and other interested parties, by providing practical know-how and learning tools on financial instruments. These will include “how-to” manuals, factsheets for quick reference, e-learning modules, face-to-face training seminars and networking events."