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Microcredito per l'Abruzzo
Microcredito per l'Abruzzo
Sector: Post-emergency interventions, Microcredit
Country: Italy
Partner: Dipartimento Protezione Civile
Beginning Year: 2010

In Abruzzo the Italian Agency Protezione Civile entrusted to Etimos the management of a  5 million EUR fund, created thanks to donations received after the earthquake, to start a post-emergency microfinance intervention. On behalf of the Protezione Civile, Etimos had already managed a microcredit program in Sri Lanka, thanks to the donations collected after the 2004 tsunami, having thus transformed the flow of charitable humanitarian aid in business opportunities for thousands of families.

The idea
The project - managed by Microcredito per l'Italia - the company of Network Etimos in charge to promote financial inclusion in Italy - uses the funds in a very simple and transparent way, making available the guarantees necessary to have access to short-term, medium and long term loans, at favorable conditions (no fees, rapid  loan disbursement, favorable repayment plans).

The funds are disbursed by local banks partners in the projects and are addressed to private households, micro and small enterprises (including start-ups and professionals), associations and cooperatives.

The operators of Microcredito per l’Italia, together with volunteers and associations involved in the project, provide a constant tutoring, made of dialogue and technical advice throughout the whole credit path: from the organization of the initial documentation to the relationships with banks (in the loan disbursement and repayment).  More information is available on the website of Microcredito per l’Italia.

The results
Credit is not a cold or indifferent tool. In difficult contexts, tested by devastating disasters, such as Abruzzo, it can give to people hope and prospects for the future, it can help restarting economic activities and rebuilding the social fabric of communities.

Over the first five years of activity nearly 800 loans were disbursed for a total of over 19 million euro. Over 200 private and families and more than 500 micro and small enterprises could benefit from it, without being asked to submit additional personal or financial guarantees. 

Here you can find all the results of Microcredito per l'Italia in detail.