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#EIF: €27 million for social enterprises in Denmark via EU Programme for Employment and Social Innovation

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The European Investment Fund (EIF) and Merkur Cooperative Bank (Merkur) have signed the first Social Entrepreneurship guarantee agreement in Denmark under the EU Programme for Employment and Social Innovation (EaSI).

This new guarantee agreement allows Merkur to provide a total of €27 million to social entrepreneurs over the next 5 years. Employment, Social Affairs, Skills and Labour Mobility Commissioner Marianne Thyssen said: "Thanks to €27 million in EU funding, Merkur will help 600 social entrepreneurs in Denmark to access financing. This will allow them to grow businesses in areas with a strong social impact such as educational institutions, social institutions for citizens with special needs and social enterprises. Through the programme for Employment and Social Innovation, the European Commission shows its commitment to foster sustainable employment for the most vulnerable people in the labour market." The EU-backed programme will help Merkur to provide loans to social enterprises, targeting vulnerable groups.

More information on this transaction can be found here.

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