Summary of the microfinance situation in four European countries and five proposed lines of action
The European Investment Bank has announced its support for the refugee crisis as part of a concerted European response and in close partnership with the Member States and the European Commission. In order to offer a better understanding of the crisis, the two networks in Europe representing the microfinance sector – European Microfinance Network (EMN) and the Microfinance Centre (MFC) – provide a summary of the microfinance situation in four European countries: France, Serbia, Spain and Romania.
The note proposes five potential lines of action in order to increase the capacity of the microfinance sector in Europe to help the refugee populations get on their feet:
Increase financial instruments for microfinance under the current EASI program, particularly with reference to guarantees;
Provide support for the non-financial services offered by microfinance institutions in addition to microcredit activities;
Provide support for the development of other alternative microfinance products;
Increase the instruments of the EASI/Jasmine technical assistance program;