Investment & Fund Management

The European Investment Fund (EIF) and Banca Popolare di Milano (BPM) entered into an agreement under the Progress Microfinance initiative, specifically designed to support micro-enterprises in Italy. The initiative addresses the challenges faced by individuals who struggle to access traditional banking services, particularly targeting groups such as young entrepreneurs, women, and immigrants.

Through this collaboration, BPM is set to provide up to EUR 8 million in micro-loans, each under EUR 25,000, which will benefit over 400 local micro-enterprises. These loans are aimed at a diverse range of businesses, from start-ups led by young entrepreneurs to those in the expansion phase. The Municipality of Milan plays a crucial role by offering a tailored microcredit product for entrepreneurs under 35, supplemented by tutoring and coaching services from Fondazione Welfare Ambrosiano to assist in project implementation.

This partnership not only expands BPM's product offerings to a new market segment but also enhances access to finance for self-employed individuals and those from underrepresented groups. The Progress Microfinance initiative, funded by the European Commission and the European Investment Bank, aims to increase financial inclusion for micro-entrepreneurs, thereby fostering entrepreneurship and economic growth in the region.