Investment & Fund Management
The European Investment
Full Credential Description
The European Investment Fund (EIF) partnered with the Cooperative Credit Bank (BCC) Bellegra to address the challenges faced by micro-entrepreneurs in the Lazio region of Italy, particularly those who struggle to access traditional credit due to insufficient guarantees. The specific issues included financial exclusion of self-employed individuals, unemployed citizens, ethnic minorities, women, and young people, all of whom often lack the necessary collateral to secure loans.
To tackle these challenges, the EIF provided EUR 2.5 million in micro-loans through BCC Bellegra under the Progress Microfinance initiative. This funding enabled BCC Bellegra to launch a new micro-finance product named CREAMI.EU, specifically designed to support local entrepreneurship and foster economic and social development. The initiative aimed to not only provide financial resources but also to guide approximately 120 local micro-borrowers in developing their entrepreneurial skills and banking knowledge, thereby creating a new group of responsible entrepreneurs.
As a result of this collaboration, BCC Bellegra has positioned itself as a key player in promoting financial inclusion and local economic development. The agreement marked the fourth under the Progress Microfinance initiative in Italy, contributing to a broader commitment of over EUR 130 million across Europe to benefit micro-borrowers. This initiative exemplifies how targeted financial solutions can effectively address the unique needs of underserved communities, enhancing their access to finance and supporting sustainable local growth.