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Adie issues an interest-free loan fund

Source : Adie

In France, 47% of young unemployed people would like to create their own company. To give them a better chance of carrying out their project, on 3rd October 2011, Adie (Association pour le Droit à l’initiative Economique [a French association for the right to economic initiative] – ) issued an interest-free loan fund. According to Catherine Baraboux, Adie’s new president, “This fund for young people is an additional solution over and above microloans and the support that the association gives.”

In practical terms, these interest-free loans, up to 10,000 euros, will serve as initial capital and “quasi-equity”, according to Adie. The goal is to annually sponsor 1,000 young people aged less than 32, at least a third of whom come from priority neighbourhoods.

This fund backs up other existing programmes, such as "Creating a start-up in the suburbs", which is led by PlaNet Finance.