This new financing agreement was made possible by the European Fund for Strategic Investments (EFSI), the core of theInvestment Plan for Europe. This new guarantee agreement allows Triodos Bank to provide a total of €65 million to 430 social entrepreneurs over the next 5 years in the Netherlands, Belgium, Spain and France. Social entrepreneurs will be able to benefit from loans at a reduced interest rate with lower collateral requirements under the EU supported programme.
Commissioner for Employment, Social Affairs, Skills and Labour Mobility, Marianne Thyssen, said: "Thanks to EU funding, Triodos Bank will launch a new lending activity worth €65 million to support 430 social entrepreneurs, many of whom face difficulties in accessing credit from traditional banking sources. This new guarantee agreement will allow social entrepreneurs from theNetherlands, Belgium, Spain and France, working in sectors such as the organic food supply chain, sustainable fashion and labour inclusion, to benefit from loans at a reduced interest rate to start-up or develop their businesses. The Commission remains committed to foster sustainable employment for the most vulnerable people in the labour market."
The EaSI Guarantee scheme was launched in June 2015 and is funded by the European Commission and managed by the European Investment Fund. More information is available in this press release.
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