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Microcredit fosters social inclusion, PACE believes

Strasbourg, 27.05.2011 - Microcredit, used to encourage the formation and development of microenterprises, often aids the transition from unemployment to self-employment, and plays an important part in promoting social inclusion, the PACE believes. In a resolution adopted today in Kyiv, on the basis of the report by Márton Braun (Hungary, EPP/CD), the PACE accordingly invited member states to adapt their institutional, legal and commercial frameworks in order to promote microcredit, particularly through measures to lower legal, tax and administrative barriers, such as exemption from social insurance charges for start-ups and simplified registration procedures.

The Assembly also proposed a series of measures to create a hospitable economic environment enabling the development and smooth functioning of microfinance institutions in the member states.