EIF Signs First Agreement for Micro-entrepreneurs in the Baltics under Progress Microfinance

Date: 
01 Feb 2016

The European Investment Fund (EIF) and UniCredit Leasing SIA (UCL) have signed the first loan agreement in the Baltics under Progress Microfinance with funding from the European Union.

The Progress Microfinance EUR 18m loan agreement will allow UCL to provide enhanced access to finance to over 1,000 micro-entrepreneurs, in Estonia, Latvia and Lithuania, many of whom face difficulties in accessing credit from traditional banking sources. Progress Microfinance is funded by the European Commission and managed by the European Investment Fund.

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Countries: 
Estonia, Latvia, Lithuania