11/02/2011 (Agence Europe) - First EU microfinance project up and running. In the Netherlands on 11 February, the European Commission and the European Investment Fund (EIF) launched the very first EU microfinance project (part of the Progress Programme, see EUROPE 10113). The European Progress Microfinance Facility (Progress Microfinance) is a new initiative established with €200 million of funding from the European Commission and the European Investment Bank Group, managed by the European Investment Fund (EIF) to issue aid (loans, guarantees and business funds) to microentrepreneurs and the unemployed and other people who would otherwise not be able to get funding to set up their own business (women and young entrepreneurs, minorities, the disabled and sole traders). For further information, see: http: //ec.europa.eu/epmf. (F.G./transl.fl)