AN INITIATIVE OF THE EUROPEAN MICROFINANCE NETWORK
The European Microfinance Observatory
A knowledge hub for policymakers, microfinance institutions and practitioners — consolidating evidence on the ecosystem, regulation, funding and resources of microfinance across EU member states and candidate countries.
Evidence-based
Built on EMN research, member contributions, and academic sources across Europe.
Country-specific
Regulatory frameworks, ecosystem actors, and market data for every EU country.
Always current
Continuously updated with new policy developments, funding instruments, and research.
THE EU LEVEL
Four connected dimensions
At European level, microfinance is shaped by the actors that make up its ecosystem, the framework that defines and regulates it, the policies that set its environment, and the funding that sustains it.
01
Ecosystem
Who the actors are and how they connect — microfinance institutions, funders, regulators, support organisations and networks.
02
Framework
How microfinance is defined, supported and regulated at EU level — the EU definition, EU support, the Code of Good Conduct and the legal basis.
03
Policy
The EU entrepreneurship and SME policy agenda and the programmes relevant for micro and small enterprises and microfinance.
04
Funding
EU instruments such as InvestEU and ESF+, other public funders (CEB, EIB) and private investors.
WHAT IS MICROFINANCE?
Small loans, with support, for people banks leave out
Under the InvestEU and ESF+ regulations, microfinance “includes guarantees, microcredit, equity and quasi-equity, coupled with accompanying business development services such as individual counselling, training and mentoring, extended to persons and microenterprises that experience difficulties accessing credit for the purpose of professional and/or revenue-generating activities.”
In practice: a microcredit is a loan of up to EUR 50,000 to someone who cannot get credit from a bank — an unemployed person starting a business, a self-employed worker, a microenterprise — combined with coaching or training that helps the business succeed. Read the full EU definition →
€50kUp to · microcreditLoans up to EUR 50,000 for income-generating activities
+SupportCounselling, training and mentoring alongside the loan
→InclusionFor people and microenterprises excluded from bank credit
The EU definition and the EUR 50,000 threshold define the scope of EU financial support; national laws may set different thresholds and rules. See how countries differ →
AN INITIATIVE OF THE EUROPEAN MICROFINANCE NETWORK
The Observatory is run by the European Microfinance Network (EMN) and built on EMN research, contributions from national networks and members, academic work and EU institutions’ publications. EMN receives funding from the European Union within the framework of a partnership agreement to support EU-level networks active in the areas of social enterprise finance and microfinance (2025–2027). Views and opinions expressed are those of the authors only and do not necessarily reflect those of the European Union or the European Commission.
COVERAGE
Across all of Europe
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EU Member States
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Candidate & potential candidate countries
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Knowledge topics covered
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Reports, studies & resources
COUNTRY EXPLORER
Explore microfinance country by country
An interactive map of the European microfinance landscape. Click a country to view its regulatory framework, ecosystem actors, funding instruments, and latest news.
Hover over a country to see its name · Click to explore its profile
LATEST INSIGHTS
Recent additions to the repository
Social Impact Measurement Toolkit
Microfinance as a Tool to Support Europe’s Missing Entrepreneurs
The ex post evaluation of the European Union Programme for Employment and Social Innovation (EaSI) including the final evaluation of the European Progress Microfinance Facility (EPMF)
This Staff Working Document evaluates the Employment and Social Innovation (EaSI) Programme and the European Progress Microfinance Facility (EPMF), assessing…
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