The Juncker Plan’s European Fund for Strategic Investments (EFSI) is backing a financing agreement in Bulgaria to support micro-enterprises, the European Commission said on October 25.
The European Investment Fund (EIF) has signed the first microfinance guarantee agreement in Bulgaria with JOBS MFI with a total value of 10 million leva (about 5.1 million euro) under the EU programme for Employment and Social Innovation (EaSI).
This agreement will see about 320 micro-enterprises in various sectors benefit from loans, focusing on young entrepreneurs, women, artisans and small farmers.
Commenting on the agreement in Bulgaria, Marianne Thyssen, Commissioner for Employment, Social Affairs, Skills and Labour Mobility, said: “I am delighted to see the first Guarantee agreement under the EU programme for Employment and Social Innovation in Bulgaria come to fruition.
“Thanks to EU backing under said programme, around 320 micro-enterprises across Bulgaria will have enhanced access to finance. This is a prime example of the European Pillar of Social Rights in action, supporting employment and equal opportunities for all, including women and young entrepreneurs in rural areas who face difficulties in accessing finance to start up and grow their business.”
As of October 2019, the Juncker Plan has mobilised 439.4 billion euro of additional investment, including 2.4 billion euro in Bulgaria, the European Commission said.
(Photo: Miroslav Saricka/ freeimages.com)