Small farms are the backbone of many Member States’ rural economies. In that context, a new micro-finance scheme in Romania using InvestEU is helping to develop this key part of the EU’s agri-food sector.
By using €8.5 million of public funds to attract investments totalling some €100 million, the scheme is taking advantage of the considerable opportunities available from InvestEU.
Microcredit loans will be issued through Romania’s largest microfinance institution, with the investment package designed to suit the needs of small-scale development projects. Such enhanced access to finance for small farms will help them invest in resilience actions that boost employment and food security while protecting the long-term sustainability of rural Romania.
Nicolas Schmit, the EU’s Commissioner for Jobs and Social Rights, said: “Microfinance can play a crucial role in creating jobs and promoting social inclusion.
Thanks to financing under InvestEU’s social strand, micro-entrepreneurs and small-scale farmers who might otherwise find it difficult to access loans will be able to start up or develop their businesses, and unlock a brighter future for themselves and their families.”
- Publication date
- 25 October 2022
- CAP Implementation