(23 June 2017) – The European Investment Fund (EIF) and Banca Popolare Etica (BPE) have signed the first Social Entrepreneurship guarantee agreement in Italy under the EU Programme for Employment and Social Innovation (EaSI).
This new guarantee agreement allows Banca Popolare Etica to provide a total of €50 million to 330 social entrepreneurs over the next 5 years, to both Spanish and Italian businesses.
Social enterprises including those employing people with disabilities, people who have been long-term unemployed, migrants and asylum seekers, will be able to benefit from loans at a reduced interest rate, with reduced collateral requirements, under the EU supported programme.
Banca Popolare Etica will focus on a vast range of social enterprise sectors, targeting innovative socially oriented start-ups, social agri-businesses and companies active using energy efficiency and renewable energy technology.