On 22 June 2015, the European Commission entrusted the EIF with the implementation of the EaSI Guarantee under the European Programme for Employment and Social Innovation (EaSI). The EaSI Guarantee will provide a €96 million guarantee for the period 2014-2020. This is expected to generate over €500 million in loans that are used to promote jobs and growth in Europe.
The EaSI Guarantee Financial Instrument provides capped guarantees and counter-guarantees covering loan portfolios in the microfinance and social entrepreneurship segments. Eligible financial intermediaries are public and private bodies established on a national, regional or local level in one or several EaSI participating countries (EU Member States, Iceland, FYROM, Montenegro, Serbia and Turkey to date).
The EIF launched a Call for Expression of Interest for financial intermediaries who are interested in using the EaSI Guarantee Financial Instrument.
This Open Call will remain open until 30 September 2023 and applies to:
- Microfinance (Counter-) Guarantees run by financial institutions, microfinance institutions/providers, leasing companies, guarantee schemes, guarantee institutions or other institutions authorised to provide microfinance loans/guarantees or risk-sharing structures according to the applicable legislation;
- Social Entrepreneurship (Counter-) Guarantees run by financial institutions, guarantee schemes and institutions, foundations, social investment funds or other bodies authorised to provide loans/guarantees or risk-sharing structures according to the applicable legislation.
Additional information on the European Commission support to microfinance and social entrepreneurship can be found here:
Application Details explaining the EaSI Guarantee Financial Instrument’s application process are available online and financial intermediaries will be selected by the EIF via a due diligence process.
Entrepreneurs and micro-enterprises looking for finance can find out which financial intermediaries currently cooperate with the EIF here http://www.eif.org/what_we_do/where/index.htm