Chambers Ireland welcomes European microfinance facility

Chambers Ireland has today welcomed the European Commission’s proposals to establish a €100m microfinance facility providing microcredit to small businesses and entrepreneurs.

Speaking this afternoon, Ian Talbot, Chambers Ireland chief executive said: "The Progress microfinance facility will offer people who have lost their jobs the opportunity to start up or develop new businesses through a dedicated credit facility.

"Not only will this help to create new jobs, it will help encourage entrepreneurship and innovation both of which are crucial to helping Ireland restore its competitiveness."

"Today’s announcement complements the €350m investment in Irish SME’s by the European Investment Bank and further underlines Europe’s positive support for Ireland’s business environment."