The Europe 2020 strategy is about delivering economic growth with higher employment. It recognises entrepreneurship and self-employment as key for achieving smart, sustainable and inclusive growth.
The strategy is implemented by European Comission, led by Jean-Claude Juncker. The so called Juncker plan identifies 10 priorities of work, which include creating jobs and boosting growth.
In its support to entrepreneurship and self-employment, the European Commission focuses its efforts on:
- business start-ups by unemployed and people from vulnerable groups
- support for social entrepreneurs
and seeks to:
- increase knowledge about entrepreneurship and self-employment
- build capacity in EU countries and regions
- support entrepreneurship financially.
By supporting microfinance, European Commission hopes to help stimulate self-employment and the creation of micro-enterprises.
For this, EU Programme for Employment and Social Innovation (EaSI) has been launched. Microfinance fits into one of 3 axis of the program:
- PROGRESS axis: the modernisation of employment and social policies (61% of the total budget);
- EURES axis: job mobility (18% of the total budget);
- Microfinance and Social Entrepreneurship axis: access to micro-finance and social entrepreneurship (21% of the total budget) through offering financial instruments to financial institutions offering microcredit. See the map of available financial instruments.
1. Use financial instruments available to support access to microcredit and SME financing. See map.
2. Use European Commission platform to advocate for microfinance enabling environment.