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Following the success of the first Défi Solidaire (Solidarity Challenge), initiated by the Directorate of International Cooperation (DCI) in June 2016, the government is launching a new edition of the challenge in which members of the administration will be able to participate, from June 12 to 30.
This year, the Défi Solidaire will allow each official and state agent to vote for micro-entrepreneurs of their choice through the Babyloan platform, a partner of the government. Projects with the highest number of votes will receive microcredits.
The amount of €28,000, allocated by the DCI, will be supplemented by the €22,000 loaned in 2016 and already reimbursed. Thanks to this system of reinjecting funds, more than 100 micro-entrepreneurs will be supported.
“Operation Babyloan” in 2016 attracted 800 voters over one month and as a result 52 projects were selected and financed by the DCI to the tune of €22,000. Four additional projects were financed with the first amounts reimbursed and 100 percent of loans have been repaid.
An information meeting was held on Monday, May 29, in the presence of Arnaud Poissonnier, Founding President of Babyloan. More than forty people participated, demonstrating their interest in social entrepreneurship. Babyloan, the first European solidarity lending site, allows people with very low incomes who are excluded from the traditional banking system to access a microcredit of €400 to €800 to set up or develop a small business.
The National Assembly has welcomed the latest graduates to the Principality’s Police Force.
An incredible 12-month time lapse video showing the creation of Monaco’s mammoth land extension project has just been released.
Monaco has a new bailiff, or huissier as known locally, who was sworn in earlier this week.
General crime rates in the Principality dropped by a significant 16% between the years 2016 and 2019, and street crime by an impressive 52%.