The potential for financial instruments supporting migrant integration
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We are pleased to share that the European Investment Bank (EIB) has published the AMIF (Asylum, Migration and Integration Fund) study on “The potential for financial instruments supporting migrant integration” and we’re proud that the Microfinance Center contributed significantly to this important work.
The study is divided into two parts: a market assessment report and a design options for financial instruments and potential combination with grants.
One of the key findings highlights the crucial role in enabling migrant entrepreneurship by providing microloans and other financial services to vulnerable groups, including TCNs (Third-country nationals) facing difficulties accessing conventional banking services for their entrepreneurial ventures.
Additionally, the study emphasizes the importance of Business Development Services (BDS), such as mentoring, training, coaching and facilitating access to markets are particularly important for vulnerable groups as they enhance their business skills, knowledge and performance, enabling them to overcome legal, cultural and linguistic barriers.
By combining microfinance with non-financial support in the form of BDS, microfinance can comprehensively aid migrant entrepreneurs in initiating and expanding their businesses, leading to job creation and contributing to the economic and social development of their host communities.
Learn more here