  he flagship initiative for small and micro-credit funds development in small mining towns came over early in the MERIT 1 Project as part of TACIS activities.
When the idea was further developed, it was agreed that besides the technical assistance in the form of advisory and training, the limited funds (approx Euro 20,000 for each town) would be attached to the flagships in the form of the development funds granted to each town.
The municipal funds take the unique position in the financial sector market, because the commercial banks do not generally provide credits of such small size. It is proved that even small municipal funds can exist and provide support to entrepreneurs.
The results of the flagship initiative for small and micro-credit funds development in small mining towns are presented here:
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