Cedefop

Microfinance in south-eastern Europe: How small business helps to create jobs

Experience in Western countries shows that microfinance can be a useful tool in the fight against unemployment, by helping people start their own viable small businesses. An ILO project is now bringing these successful experiences to three countries in south-eastern Europe, helping to introduce microfinance as a tool in active labour market policy. The effort is particularly timely, as 2005 has been designated the "International Year of Microcredit" by the United Nations.