In Cagliari, loan project begins for youth, unemployed

EU funds, involves Italy, Greece, Tunisia, Lebanon, Palestine

29 January, 14:22

    NAPLES - A project titled MEDSt@rts aims to facilitate access to loans for people who are normally considered non-bankable.

    It also aims to support the creation of new economic and professional opportunities to contribute to social inclusion and fight unemployment among those who are economically fragile, such as young people and the unemployed.

    The project is being financed with 2.5 million euros in EU funds from the ENI CBC Med Programme, an EU tool for trans-border cooperation in the Mediterranean basin for 2014-2020.

    The project will officially kick off with a presentation on Friday, January 31, at the Fondazione di Sardegna headquarters in Cagliari with all participating partners, from Italy, Greece, Tunisia, Lebanon, and Palestine.

    MEDSt@rts is aimed at the unemployed, non-employed (in particular young people between the ages of 24 and 35 and women), and businesses in the underground economy.

    The Fondazione di Sardegna is heading the 30-month project.

    Other project partners are: Sfirs SpA (Italy), Italo-Arab Chamber of Cooperation (Italy), Achaia Chamber of Commerce (Greece), Sfax Chamber of Commerce (Tunisia), Leaders (Palestina), and Southern Lebanon Chamber of Commerce (Lebanon).

    The project's objective is to create a common, trans-national programme as an alternative system to access credit, inspired by the principles of solidarity and ethical finance, involving public and private institutions.

    The financing system will be objective, simple, and impactful, allowing even those who are traditionally recognised as non-bankable the chance to access forms of microfinancing for the start and development of entrepreneurial projects in sectors such as digitisation, sustainable tourism, agri-food, eco design, and handicrafts.

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