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How does EIF contribute to EFSI
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  •  
    Date: 17 October 2019

The EaSI Funded Instrument is part of the EU’s Employment and Social Innovation Programme (EaSI).  With an overall size of EUR 200 million - including contributions from the EU, the EIF and the EIB - this new fund aims at boosting the lending capacity of eligible financial intermediaries that operate in the microfinance and social enterprise finance space.

Thus, it complements the current product offering under the EaSI Programme, which includes to date the EaSI Guarantee Instrument and the EaSI Capacity Building Investments Window.

In line with the objectives of the EaSI programme, the new EaSI Funded Instrument seeks to improve access to finance for micro-enterprises (including the self-employed and those that employ vulnerable people) and social enterprises in order to create jobs and support social inclusion.

The EaSI Funded Instrument provides senior and subordinated loans to eligible financial intermediaries in order to increase their capacity to provide financing to micro-enterprises and social enterprises, as well as mobilizing their own resources to grow their microfinance or social entrepreneurship portfolios.

The EaSI Funded Instrument builds on the success of the European Progress Microfinance Facility (EPMF). The  facility was an EU initiative launched in 2010 and managed by EIF that has so far mobilised more than EUR 520m, supporting more than 55 000 micro-borrowers.

How to become a financial intermediary?

For financial institutions:

For additional information on eligibility and other criteria as well as documentation requirements, please send an email to EaSI_Funded@eif.org.

In the selection of financial intermediaries, the EIF’s applies its standard evaluation process, including due diligence, following the review and successful pre-selection of a financial intermediary’s funding request.

Interested parties may send their funding request together with required documentation to the EIF at the latest by 31 March 2023 to the following email address: EaSI_Funded@ eif.org.

For more information about finance available under further EU initiatives, please visit http://europa.eu/youreurope/business/funding-grants/access-to-finance/

Or check the EIF’s list of Intermediaries nearest to you: https://www.eif.org/what_we_do/where/index.htm

 

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