The European Investment Fund (EIF) and Towarzystwo Inwestycji Spoleczno-Ekonomicznych SA (TISE) have signed a Social Entrepreneurship guarantee agreement under the European Commission's EU Programme for Employment and Social Innovation (EaSI). This new guarantee agreement allows TISE to provide a total of €8 million to at least 60 social entrepreneurs in Poland and Central and Eastern Europe, many of whom face difficulties in accessing credit from traditional banking sources. Social entrepreneurs in sectors including recruitment, fair trade and targeted child care will be able to benefit from loans at a reduced interest rate. Commissioner for Employment, Social Affairs, Skills and Labour Mobility, Marianne Thyssen, commented: "Through this €8 million EU funding, TISE will be able to offer loans on preferential conditions to over 60 social enterprises in Poland. By providing them a greater access to finance, we contribute to the development of social enterprises in key sectors for social inclusion, such as education, job promotion and fair trade. This shows again that the European Commission is fully committed to combat poverty and improve working conditions in Europe, with particular efforts directed towards the most vulnerable people on the labour market." The EaSI Guarantee scheme was launched in June 2015 and is funded by the European Commission and managed by the European Investment Fund. More information can be found here.
