Basic HTML Version
Business year 2011
27
in EUR m
Deal name
Resources
Geographic focus
Commitment
Equity and loan activity
Cooperative Central Bank
Progress Microfinance
Cyprus
8.0
FAER IFN S.A.
Progress Microfinance
Romania
1.0
ICREF
Progress Microfinance
Spain
8.0
Inicjatywa Mikro
Progress Microfinance
Poland
3.9
Jobs Micro Financing Institution
Progress Microfinance
Bulgaria
6.0
Mikrofond
Progress Microfinance
Bulgaria
3.0
Pancretan Bank
Progress Microfinance
Greece
8.8
Patria Credit
Progress Microfinance
Romania
8.0
Siauliu Bankas
Progress Microfinance
Lithuania
5.0
Volksbanken Slovenia
*
Progress Microfinance
Slovenia
8.8
Inicjatywa Mikro
EPPA
Poland
0.7
Microstart
EPPA
Belgium
0.8
Coopest
RCM
Belgium
1.2
Subtotal
63.1
Guarantee activity
Banco Comercial Portugues - Millennium Progress Microfinance
Portugal
0.3
FM Bank
Progress Microfinance
Poland
1.9
Pancretan Bank
Progress Microfinance
Greece
0.9
Patria Credit
Progress Microfinance
Romania
1.0
Subtotal
4.0
Total
67.1
Microfinance signatures 2011
Technical Assistance facility is to act as a catalyst to help
MFIs improve their access to institutional and commercial
funding in order to expand and become sustainable.
To date, 25 non - bank MFIs have benef i ted f rom
JASMINE TA. Out of those non-bank MFIs, seven have
also received funding and/or risk coverage under
EPPA (four) and Progress Microfinance (three).
In 2011, microfinance development services were im-
plemented under JASMINE to help market building
through tools facilitating transparency, information shar-
ing and standardisation of products. From 2012 onwards,
JASMINE TA will also be extended to banks active in the
microfinance space and to greenfield MFIs.
European Parliament Preparatory Action (EPPA)
In March 2010, the EC and EIF signed the EUR 4m EPPA
mandate. The European Parliament had encouraged the EC
to launch this preparatory action to promote a more favour-
able environment for micro-credit in the EU and to comple-
ment the JASMINE pilot facility. EPPA supports higher risk
financing for non-bank MFIs and provides seed financing to
newly created MFIs with strong social credentials but which
have not yet reached sustainability. EIF has closed four out of
five transactions under EPPA, three of which in 2011.
* Subject to regulatory approval.
“EIF has helped us with financial support but going
beyond that also provided technical assistance. With
this support, we managed to improve our visibility and
the quality of the products and services we offer our
target groups”.
Georgi Breskovski, CEO, Mikrofond