A European microfinance facility for employment and social inclusion, called the European Progress Microfinance Facility is hereby established by a Council and Parliament decision.

The Facility shall provide Union resources to increase access to, and availability of, microfinance for:

• Persons who have lost or are at risk of losing their job, or who have difficulties entering or re-entering the labour market, as well as persons who are facing the threat of social exclusion or vulnerable persons who are in a disadvantaged position with regard to access to the conventional credit market and who want to start or further develop their own micro-enterprise, including self-employment.
• Micro-enterprises, especially in the social economy, as well as micro-enterprises which employ persons referred to in the previous point.

The Facility shall provide Union resources for access to microfinance, and actively promote equal opportunities for women and men.

The Facility shall be implemented by using the following types of actions, as appropriate:

• Guarantees and risk-sharing instruments.
• Equity instruments.
• Debt instruments.
• Support measures, such as communication activities, monitoring, control, audit and evaluation which are directly necessary for the effective and efficient implementation of this Decision and for the achievement of its objectives.

The Community provisional funding available for the programme is:

• 100,00 Million EUR (Global Budget)