The European Commission announced last week plans to create a 100 million euro fund to pour into existing microcredit agencies within the European Union. Intended as a plan to combat unemployment by allowing entrepreneurs the means to start small businesses, the program will launch by next year. The fund is expected to provide capital for up to 45,000 new small businesses.

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Perhaps this exciting development for the microfinance industry may be also considered for application in the U.S.?