EU will launch a 100 million micro-credit lines for young and long-term unemployed

Spidla with EU Labour Ministers in Barcelona. eu2010.es

European Employment Commissioner Vladimir Spidla announced today that the European Union is planning to launch a line of micro-credits worth 100 million euro for the young and long-term unemployed. The EU would use funds from the European Investment Bank to help young or long-term unemployed persons who were unable to obtain bank loans for starting companies, Spidla said following an informal EU Labour ministers’ meeting in Barcelona.