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 approximately 1,300 micro-businesses in Poland, which often struggle to access financing necessary for their growth and sustainability.
To tackle this issue, EIF provided a guarantee that enables Nest Bank to offer over EUR 9 million in loans under favorable conditions over the next three years. This collaboration is significant as it represents the second transaction under the EaSI framework supported by the European Fund for Strategic Investments (EFSI), highlighting the synergy between different EU funding sources to maximize impact.
The results of this initiative are expected to be substantial, as it will facilitate easier access to finance for micro-businesses, which play a crucial role in combating social exclusion and poverty in Europe. The financial backing from the European Commission not only enhances the availability of loans but also supports the broader social agenda of promoting employment and social inclusion. This strategic partnership aims to empower micro-entrepreneurs, enabling them to thrive and contribute positively to the economy.