Microfinance: an important tool to reach European Cohesion policy’s objectives
Microfinance: an important tool to reach European Cohesion policy’s objectives

Summary/Abstract: This paper departs from the recognition of the enormous potentialities microfinance has in the financial inclusion of disadvantaged stratus of the population, in job creation and support of microbusinesses and, therefore, in the reaching of the thematic objectives 8 and 9 of the Europe 2020 strategy. Accordingly, its aim is to shed further light on what European microfinance is (and its links with the European 2020 strategy) and further describe the funding opportunities available at the European Union level. The paper will proceed in 3 chapters. In the first one, the European Cohesion Policy (that in the present programming period is strongly linked with the Europe 2020 Strategy) will be presented. Moreover, the link between the European Regional Development Fund (ERDF), the European Social Fund (ESF) and thematic objectives 8 and 9 and the link between the latter and microfinance, will be described. The second chapter will be entirely devoted to the description of the European microfinance sector and the opportunities available under the European Structural and Investment (ESI) funds and those made available by the European Commission and European Investment Bank and managed centrally by the European Investment Fund (EIF). In the third chapter, the general conclusions will be presented.

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