Microcredit, over 100 Million € for Youth and Businesses

One hundred and twenty million € for the support and the start-up phase of over a thousand entrepreneurial initiatives of stakeholders who hardly could obtain credit from banks, with a 96% loan repayment rate. These are some of the figures and facts shown during the press conference to present the results of the call “EDF Microcredit Fund” held in Naples at the Sala Giunta of Palazzo Santa Lucia. President of Regione Campania Stefano Caldoro and Regional Minister for Employment and Training of Regione Campania Severino Nappi attended the event.

President Caldoro commented on the figures that had “an immediate positive local impact”.

Microcredit includes loans from 5 thousand to 25 thousand € to repay without interests and meant for new activities or enhancement of those already existing for those stakeholders who are not eligible for bank credit.

"This measure has promoted 56% of new businesses and activities, and it supports those citizens who want to set up a trade or professional activity”.  

As reported: "Through microcredit 1250 applications have been submitted, it’s a revolving fund and sums received have been repaid. This is how these funds are put again in the system for others willing to set up businesses”. Mr Caldoro concluded: “We are the first Southern region to implement this measure and arrange the whole system; we are very proud since we have arranged something good for our citizens and for our system of micro-businesses”.

Regional Minister for Employment and Training of Regione Campania Severino Nappi attended the event, too, and announced a third similar call with a 20 million € investment.