Investment & Fund Management
The European Investment
Full Credential Description
The European Investment Fund (EIF) and Nest Bank entered into a microfinance agreement aimed at supporting micro-businesses in Poland under the EU Programme for Employment and Social Innovation (EaSI). This initiative addresses the specific challenge faced by Polish micro-businesses in accessing affordable financing, which is crucial for their survival and growth. The EIF's guarantee enables Nest Bank to provide over EUR 9 million in loans on favorable terms to approximately 1,300 micro-businesses over the next three years.
The tailored solution provided by the EIF involves leveraging the European Fund for Strategic Investments (EFSI) to enhance the EaSI program, thereby maximizing its impact on social inclusion and poverty alleviation. This collaboration allows micro-businesses, which often struggle to secure traditional financing due to perceived risks, to access necessary funds. The agreement signifies a strategic approach to combine various EU funding sources to support vulnerable groups and promote entrepreneurship.
As a result of this initiative, Polish micro-businesses are expected to benefit significantly from improved access to finance, which will enable them to thrive in a competitive market. The EIF's Chief Executive, Pier Luigi Gilibert, expressed confidence that this agreement would facilitate broader outreach to micro-borrowers across the EU, ultimately contributing to economic growth and job creation in the region.