EU to support social entrepreneurship in Italy with €10 million

EPA/STEPHANIE LECOCQ

European Commissioner for Employment, Social Affairs, Skills and Labour Mobility, Belgian Marianne Thyssen holds a joint press conference with EU Commissioner for Budget and Human Resources Guenther Oettinger and EU Commissioner for Education, Culture, Youth and Sport, Tibor Navracsics (both not seen) to discuss the draft budget and legal proposal consolidating the European Solidarity Corps, and the Youth initiative at the EU Commission in Brussels, Belgium, 30 May 2017.

EU to support social entrepreneurship in Italy with €10 million


Share on Facebook
Share on Twitter
Share on Google+
Share on LinkedIn
+

Banca Valsabbina and the European Investment Fund have signed a social entrepreneurship guarantee agreement worth €10 million in Italy under the EU Programme for Employment and Social Innovation, which is a funding programme designed to fight social exclusion and poverty.
The financing allows for the EIF to guarantee 80% of the loss on each loan up to an estimated maximum total loss for the entire portfolio.
The agreement will enable Banca Valsabbina to offer loans with smaller collaterals from the social enterprises when the loan request is being submitted and apply a lower interest rate on the sums disbursed.

Share on Facebook
Share on Twitter
Share on Google+
Share on LinkedIn
+