Máxima's signature extends microcredit

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When Princess Máxima of the Netherlands places her signature on a new agreement on Tuesday, it will extend the financing of microcredit for a wave of upcoming Dutch micro-entrepreneurs.

Since January 2009, people eager to set up a new business have been able to apply to Qredits for a micro-loan. Qredits, the Netherlands’ only nationwide microfinance institution, was set up to provide financing and coaching for micro-entrepreneurs with viable business plans but no access to regular credit facilities. It’s a partnership between three banks (Rabobank, ING and ABN Amro) and two government ministries (Social Affairs & Employment and Economic Affairs).

In its 18 months’ existence, Qredits has loaned 800 applicants a total of 17.5 million euros. The new agreement Princess Máxima is due to sign will make an extra 30 million euros available.

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