The European Commission is launching a market testing to study if it is relevant to organize a call to select a fund manager for the financial instruments in the area of microfinance as provided in the strand “Microfinance and Social Entrepreneurship” of the new EaSI programme.
The EaSI programme is the new programme for employment and social innovation for the 2014-2020 programming period. It aims to reach the European Union’s objectives in terms of promoting a high level of employment, guaranteeing adequate social protection, combating social exclusion and poverty and improving working conditions.
For the implementation of the financial instrument promoting microfinance under future Programme for Employment and Social Innovation (EaSI), the Commission will cooperate with a financial institution. For guarantees, this is likely to be the European Investment Fund (EIF). For the dedicated investment vehicle (DIV) that undertakes funded investments in microfinance intermediaries, the choice of the manager is still open.
Potential fund managers can signal their interest and present their ability as fund manager. An organisation which has not signalled its interest can nevertheless participate in the call, if the Commission decides to go for this option instead of negotiating directly with the EIF.