Mobile financial services for isolated communities in Greece
The French organisation ADIE (the Association for the Right to Economic Initiative) has co-funded the Greek partner AFI (Action Finance Initiative) to help unemployed people, youth, women and smallholder farmers who want to start or grow their own companies.The financial crisis in Greece brought about unprecedented unemployment rates and multiple negative social consequences. The lack of liquidity in the economy and the exclusion of new and existing entrepreneurs by the banking sector are additional limitations to people’s capacity to re-bound.
In this context, the project gives financial access to micro entrepreneurs who want to create or develop their own companies – and thus their jobs. It does so by offering mobile, client-centric microfinance training, services and loans in Athens and its suburbs. ADIE provides micro credits in Greece – a country still reeling from financial crisis. Out of the 46 enterprises supported in 2016, 16 were set up by unemployed people and 72 extra jobs were created. AFI has also communicated business advice to almost 700 potential grassroots entrepreneurs. 112 formal training sessions were organised for 109 micro entrepreneurs. AFI continues to work with Greek banks to disburse loans to more companies.