Brussels, 05/11/2009 (Agence Europe) - In Brussels on Thursday 5 November, the employment and social affairs committee approved the creation of a new micro-credit instrument, and rejected the funding arrangements proposed by the European Commission (by 41 votes to 4, with no abstentions). The report by Kinga Göncz (S&D, Hungary) on the Progress micro-finance instrument proposed creating a specific budget line for the new facility, to enable people at risk of losing their jobs and the most disadvantaged to start their own micro-enterprises. Funding for this facility should amount to €150 million, say MEPs.
The Commission initially proposed that the micro-credit facility be allocated €100 million from the Progress programme for employment and social solidarity, Göncz said setting out her arguments. Under the 2006 inter-institutional agreement, the Progress programme had in fact been allocated an additional €114 million, at Parliament's request. This Commission proposal was rejected by 41 votes to 4, with 1 abstention. The committee also adopted, by 42 votes to one with one abstention, a resolution asking the Commission not to adopt specific financial measures concerning the Progress programme in 2010, until the legislative process on the micro-finance facility is concluded.
In order to reach an agreement on first reading, an informal trialogue with the Council has been scheduled for 16 November. (G.B./transl.rt)