Micro credit to help people and companies in Emilia

An intervention is similar to that experienced in Abruzzo you are using for earthquake affected populations in Emilia. The amount made available by Renzo Rosso constitute a guarantee fund that will allow the provision of micro-credit to households, micro enterprises, cooperatives and social enterprises, without asking any personal guarantee or a capital. The release of 5 million euros will be made through member banks (which are 85% of the branches of the land and use its own funds), under an agreement ratified by the ABI, which defines types of products and related conditions, and banks committed themselves to ensure a leverage effect on the amounts financed able to raise the credit limit available up to 50 million euros. As already experienced, you will create a group of volunteers can handle both the service first listen, the acceptance of applications for credit, and pre-social investigation, both escort services and technical assistance before and after the provision of credit, providing technical expertise and knowledge of the area. Diesel founder and president of the holding company OTB (Only The Brave) has entrusted the management of the resources available, and the operational implementation of the project, Etimos non-profit Foundation, a foundation that has been operating for many years in the microfinance sector with expertise in the contexts post-emergence, from the Abruzzo where it is coordinating a microcredit project that has already provided funding for more than 6 million, with an emphasis on micro-enterprise, start-up, young people and women. The non-profit Foundation Only The Brave, which is headed by Renzo Rosso (which supports research and projects of social entrepreneurship in Italy and around the world with special reference to Africa), will participate in the management of micro-credit as a member of the Committee who has a supervisory role and address the use of the fund called “Brave Circle”.


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