Local view for "http://purl.org/linkedpolitics/eu/plenary/2009-12-15-Speech-2-996"
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"en.20091215.10.2-996"2
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"On 10 November 2009, the European Commission published a Proposal for a decision of the European Parliament and of the Council establishing a European Microfinance Facility. It is related to the Commission document entitled ‘Realisation of the European Recovery Plan’ and the priorities of the Council, which are: maintaining employment, creating jobs and promoting mobility, improving skills and adapting to the needs of the labour market, and increasing access to employment.
The microfinance facility is supposed to give easier access to financial services to the unemployed and groups of businesspeople who have found themselves in a difficult situation. It is concerned with people from certain social groups who do not have the creditworthiness required by commercial banks but would like to start up in business. Introduction of this type of support facility, which comes from EU funds, has particularly significant meaning in a situation in which lending levels are currently reduced and the value of loans which have been made has fallen.
The situation in the lending sector shows that the financial and economic crisis is changing into an employment and social crisis. The report of the Committee on Employment and Social Affairs contains significant amendments to the Commission Proposal, including opposition to transfer of the necessary funds from the Progress programme to the European Microfinance Facility. The rapporteur proposes putting the facility under a separate budget line, and also proposes increasing the facility’s budget for the next four years by EUR 50 million. In view of these aspects, I endorse the report."@en1
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