PUBLICATIONS
Publication Papers
This paper focuses on the role of micro and small enterprises (MSEs) in the EU’s environmental transition. It considers the obstacles they face and possible solutions to ensure a sustainable and prosperous transition. MSEs represent a significant proportion of EU businesses, micro enterprises alone accounted for 93.6% of all European enterprises in 2023, employing nearly half of the enterprise workforce. Despite their size, MSEs are responsible for a considerable proportion of environmental impact. According to OECD data, they contribute to 40% of greenhouse gas emissions in general, and half of industrial pollution.
While a growing number of MSEs are committed to improving sustainability, only 42% are implementing at least five resource efficiency measures, such as saving energy and minimising waste. Access to finance remains a critical barrier: 55% of SMEs cite it as a substantial obstacle, and 70%
indicate a need for additional financial support to accelerate their green transition. To address these challenges, the paper recommends (1) to increase MSEs’ awareness and knowledge of support schemes and technical expertise, (2) to simplify regulatory and reporting requirements and (3) to improve financial support through targeted financial instruments and incentives.
The paper highlights the importance of a tailored support tool, such as a one-stop-shop platform, to provide MSEs with the necessary resources and facilitate their transition to a more sustainable model.
This focus paper was prepared by the European Microfinance Network with support from the Mastercard Center for Inclusive Growth. The views and insights presented are those of the author and are intended to inform discussion; they do not reflect the official position or policies of supporting partners.
Publication Papers
This focus paper explores the growing cybersecurity challenges facing Europe’s Micro and Small Enterprises (MSEs), which play a vital role in economic growth but are increasingly vulnerable due to rapid digitalisation and limited resources. While digital transformation has helped MSEs remain competitive (particularly during crises such as the COVID-19 pandemic) it has also exposed them to a broad spectrum of cyber threats, including ransomware, phishing, malware, DDoS attacks, and supply chain breaches. These threats are intensified by a lack of cybersecurity expertise, dependence on costly or ill-suited technology solutions, and constrained budgets, all of which can result in significant operational and financial consequences.
The paper underscores the urgent need for comprehensive policy measures and targeted support from EU authorities and National Coordination Centres (NCCs). It recommends expanding access to practical training, increasing funding, and developing user-friendly cybersecurity tools to foster a strong cybersecurity culture and safeguard both individual businesses and the broader digital ecosystem.
This focus paper was prepared by the European Microfinance Network with support from the Mastercard Center for Inclusive Growth. The views and insights presented are those of the author and are intended to inform discussion; they do not reflect the official position or policies of supporting partners.
Publication Policy notes
Foreword
As we are reaching the end of the year, we would like to thank you all for supporting our network and contributing to our work this year. This year of European (and national) elections and political transition brought us many challenges but also opened up new opportunities and new partnerships.
We, at EMN, have been always embracing challenges, to make the best out of them. Equipped with our brand-new Strategic Plan 2025-2027, we are ready to work harder with our existing and new members, institutional and funding partners, and make sure everyone in Europe understands the importance of microfinance and its unique ability to change people’s lives.
However, we cannot do it on our own. Your support and assistance are for yet another time not only desirable but required. And we are certain we can count on it in these rapidly changing times.
From all of us at EMN, a happy festive season and a Healthy, Prosperous and Joyful New Year!
Publication Papers
As the effects of climate change are dramatically unfolding around the world, it is essential to implement and foster a fair green transition for everybody, including micro & small entrepreneurs, and vulnerable households.
The European Microfinance Network, in partnership with The Microfinance Centre, has published a paper focused on discussing the next steps to be taken in order to make the transition real. Download the full paper at the link above.
Publication Regulatory reports
Regulatory reports serve as fact sheets that offer an overview of the legislative frameworks related to microcredit provision in Europe by non-bank financial intermediaries.
These reports address several key thematic areas:
- Regulation of lending activities
- Supervisory frameworks for non-bank lending
- Products, incentives, and support
- Development of the existing framework for non-bank microcredit provision
- Inclusive entrepreneurship and microenterprise development
The information in the reports is sourced from contributions made by EMN members operating in various countries. The current report has been updated as of December 2024.
Publication Regulatory reports
Regulatory reports serve as fact sheets that offer an overview of the legislative frameworks related to microcredit provision in Europe by non-bank financial intermediaries.
These reports address several key thematic areas:
- Regulation of lending activities
- Supervisory frameworks for non-bank lending
- Products, incentives, and support
- Development of the existing framework for non-bank microcredit provision
- Inclusive entrepreneurship and microenterprise development
The information in the reports is sourced from contributions made by EMN members operating in various countries. The current report has been updated as of December 2024.
Publication Annual report
Publication EMN Working papers
Read EMN-MFC Manifesto in view of the upcoming European elections!
Publication Regulatory reports
Along with the evolution of microcredit over the last 20 years, the legislation on microcredit activities has formalised the presence of non-bank microfinance institutions (non-bank MFIs) in the market. In contrast to banks, non-bank MFIs are the primary microcredit providers in Europe, and they are not obligated to comply with full banking requirements to offer loans. Their main target clients are primarily excluded from the banking system and therefore non-bank MFIs play a key role in promoting financial inclusion. However, what is the current legislation for non-bank MFIs in Europe?
This paper examines the various legislative frameworks adopted in Europe. For EMN, this is part of a larger learning process that will help to identify regulatory approaches that are more conducive to the development of the sector. This is key to help policymakers improve their own framework, capturing the specificities of microcredit that EMN advocates for, based on EU good practices. For microfinance practitioners, this paper can be a practical tool to compare their context with that of their peers across Europe and engage in discussion with policymakers on regulatory issues.
Publication Regulatory reports
Regulatory reports serve as fact sheets that offer an overview of the legislative frameworks related to microcredit provision in Europe by non-bank financial intermediaries.
These reports address several key thematic areas:
- Regulation of lending activities
- Supervisory frameworks for non-bank lending
- Products, incentives, and support
- Development of the existing framework for non-bank microcredit provision
- Inclusive entrepreneurship and microenterprise development
The information in the reports is sourced from contributions made by EMN members operating in various countries. The current report has been updated as of December 2024.
Publication Annual report
Publication Microfinance overview surveys
This is the 12th edition of the Survey Report on Microfinance in Europe, produced by the European Microfinance Network and the Microfinance Centre. For the sixth consecutive year, this partnership enables the survey to capture the vast majority of the European microfinance sector, providing the most comprehensive dataset available. This edition highlights the social performance of business loans and the impact measurement approaches adopted by microfinance institutions.
The study covered 191 institutions from 30 countries and captured data for 2023.
Explore key findings in the interactive dashboard
Publication Impact studies
EMN member, PerMicro, has published its Sustainability Report for 2023. Click the link to download the full document.
Publication Regulatory reports
Regulatory reports serve as fact sheets that offer an overview of the legislative frameworks related to microcredit provision in Europe by non-bank financial intermediaries.
These reports address several key thematic areas:
- Regulation of lending activities
- Supervisory frameworks for non-bank lending
- Products, incentives, and support
- Development of the existing framework for non-bank microcredit provision
- Inclusive entrepreneurship and microenterprise development
The information in the reports is sourced from contributions made by EMN members operating in various countries.
Publication Regulatory reports
Regulatory reports serve as fact sheets that offer an overview of the legislative frameworks related to microcredit provision in Europe by non-bank financial intermediaries.
These reports address several key thematic areas:
- Regulation of lending activities
- Supervisory frameworks for non-bank lending
- Products, incentives, and support
- Development of the existing framework for non-bank microcredit provision
- Inclusive entrepreneurship and microenterprise development
The information in the reports is sourced from contributions made by EMN members operating in various countries.
Publication Regulatory reports
Regulatory reports serve as fact sheets that offer an overview of the legislative frameworks related to microcredit provision in Europe by non-bank financial intermediaries.
These reports address several key thematic areas:
- Regulation of lending activities
- Supervisory frameworks for non-bank lending
- Products, incentives, and support
- Development of the existing framework for non-bank microcredit provision
- Inclusive entrepreneurship and microenterprise development
The information in the reports is sourced from contributions made by EMN members operating in various countries.
Publication Regulatory reports
Regulatory reports serve as fact sheets that offer an overview of the legislative frameworks related to microcredit provision in Europe by non-bank financial intermediaries.
These reports address several key thematic areas:
- Regulation of lending activities
- Supervisory frameworks for non-bank lending
- Products, incentives, and support
- Development of the existing framework for non-bank microcredit provision
- Inclusive entrepreneurship and microenterprise development
The information in the reports is sourced from contributions made by EMN members operating in various countries.
Publication Regulatory reports
Regulatory reports serve as fact sheets that offer an overview of the legislative frameworks related to microcredit provision in Europe by non-bank financial intermediaries.
These reports address several key thematic areas:
- Regulation of lending activities
- Supervisory frameworks for non-bank lending
- Products, incentives, and support
- Development of the existing framework for non-bank microcredit provision
- Inclusive entrepreneurship and microenterprise development
The information in the reports is sourced from contributions made by EMN members operating in various countries.
Publication Regulatory reports
Regulatory reports serve as fact sheets that offer an overview of the legislative frameworks related to microcredit provision in Europe by non-bank financial intermediaries.
These reports address several key thematic areas:
- Regulation of lending activities
- Supervisory frameworks for non-bank lending
- Products, incentives, and support
- Development of the existing framework for non-bank microcredit provision
- Inclusive entrepreneurship and microenterprise development
The information in the reports is sourced from contributions made by EMN members operating in various countries.
Publication Regulatory reports
Regulatory reports serve as fact sheets that offer an overview of the legislative frameworks related to microcredit provision in Europe by non-bank financial intermediaries.
These reports address several key thematic areas:
- Regulation of lending activities
- Supervisory frameworks for non-bank lending
- Products, incentives, and support
- Development of the existing framework for non-bank microcredit provision
- Inclusive entrepreneurship and microenterprise development
The information in the reports is sourced from contributions made by EMN members operating in various countries.
Publication Regulatory reports
Regulatory reports serve as fact sheets that offer an overview of the legislative frameworks related to microcredit provision in Europe by non-bank financial intermediaries.
These reports address several key thematic areas:
- Regulation of lending activities
- Supervisory frameworks for non-bank lending
- Products, incentives, and support
- Development of the existing framework for non-bank microcredit provision
- Inclusive entrepreneurship and microenterprise development
The information in the reports is sourced from contributions made by EMN members operating in various countries.
Publication Regulatory reports
Regulatory reports serve as fact sheets that offer an overview of the legislative frameworks related to microcredit provision in Europe by non-bank financial intermediaries.
These reports address several key thematic areas:
- Regulation of lending activities
- Supervisory frameworks for non-bank lending
- Products, incentives, and support
- Development of the existing framework for non-bank microcredit provision
- Inclusive entrepreneurship and microenterprise development
The information in the reports is sourced from contributions made by EMN members operating in various countries.
Publication Regulatory reports
Regulatory reports serve as fact sheets that offer an overview of the legislative frameworks related to microcredit provision in Europe by non-bank financial intermediaries.
These reports address several key thematic areas:
- Regulation of lending activities
- Supervisory frameworks for non-bank lending
- Products, incentives, and support
- Development of the existing framework for non-bank microcredit provision
- Inclusive entrepreneurship and microenterprise development
The information in the reports is sourced from contributions made by EMN members operating in various countries.
Publication Good practices
Publication Microfinance overview surveys
The 2023 edition of the Microfinance Survey in Europe offers a snapshot of the microfinance sector from 2022, marking the first annual release of its kind.
This is the 11th edition of the Overview Survey for the European Microfinance Network (EMN) and the fifth time it was carried out in collaboration with the Microfinance Centre (MFC). The collaboration between these two networks allows the survey to cover the lion’s share of the European microfinance sector, delivering the most complete dataset available at this time.
The study covered 169 institutions from 29 countries and captured data for 2022.
Publication Microfinance overview surveys
The 2022 edition of the Microfinance Survey in Europe offers a snapshot of the microfinance sector from 2020-2021, during and after the most severe phase of the COVID-19 pandemic.
This is the 10th edition of the Overview Survey for the European Microfinance Network (EMN) and the fourth time it was carried out in collaboration with the Microfinance Centre (MFC). The collaboration between these two networks allows the survey to cover the lion’s share of the European microfinance sector, delivering the most complete dataset available at this time.
The study covered 156 institutions from 30 countries and captured data for 2020-2021.
Read the executive summary in your language:
Publication Policy notes
This is a policy note to demonstrate the many ways in which microfinance actors support the objective of financial and economic inclusion for entrepreneurs with migrant backgrounds. It explores a number of activities that microfinance institutions (MFIs) have put in place, and a number of successful public-private partnerships that also address this goal.
Publication Policy notes
Microfinance institutions are in a key position to help mitigate the effects of human capital flight that manifests between East and West Europe. We want to propose public-private partnership initiatives that would combine the social mission of microfinance with the solidarity mechanisms within Europe, to renew investment in local entrepreneurship and innovation.
This Policy Note was prepared in collaboration with the Microfinance Centre and NOA.
Publication Microfinance overview surveys
Publication Microfinance overview surveys
Publication Regulatory reports
Regulatory reports serve as fact sheets that offer an overview of the legislative frameworks related to microcredit provision in Europe by non-bank financial intermediaries.
These reports address several key thematic areas:
- Regulation of lending activities
- Supervisory frameworks for non-bank lending
- Products, incentives, and support
- Development of the existing framework for non-bank microcredit provision
- Inclusive entrepreneurship and microenterprise development
The information in the reports is sourced from contributions made by EMN members operating in various countries.
Publication Regulatory reports
Regulatory reports serve as fact sheets that offer an overview of the legislative frameworks related to microcredit provision in Europe by non-bank financial intermediaries.
These reports address several key thematic areas:
- Regulation of lending activities
- Supervisory frameworks for non-bank lending
- Products, incentives, and support
- Development of the existing framework for non-bank microcredit provision
- Inclusive entrepreneurship and microenterprise development
The information in the reports is sourced from contributions made by EMN members operating in various countries.
Publication Regulatory reports
Regulatory reports serve as fact sheets that offer an overview of the legislative frameworks related to microcredit provision in Europe by non-bank financial intermediaries.
These reports address several key thematic areas:
- Regulation of lending activities
- Supervisory frameworks for non-bank lending
- Products, incentives, and support
- Development of the existing framework for non-bank microcredit provision
- Inclusive entrepreneurship and microenterprise development
The information in the reports is sourced from contributions made by EMN members operating in various countries.
Publication Regulatory reports
Regulatory reports serve as fact sheets that offer an overview of the legislative frameworks related to microcredit provision in Europe by non-bank financial intermediaries.
These reports address several key thematic areas:
- Regulation of lending activities
- Supervisory frameworks for non-bank lending
- Products, incentives, and support
- Development of the existing framework for non-bank microcredit provision
- Inclusive entrepreneurship and microenterprise development
The information in the reports is sourced from contributions made by EMN members operating in various countries.
Publication Regulatory reports
Regulatory reports serve as fact sheets that offer an overview of the legislative frameworks related to microcredit provision in Europe by non-bank financial intermediaries.
These reports address several key thematic areas:
- Regulation of lending activities
- Supervisory frameworks for non-bank lending
- Products, incentives, and support
- Development of the existing framework for non-bank microcredit provision
- Inclusive entrepreneurship and microenterprise development
The information in the reports is sourced from contributions made by EMN members operating in various countries.
Publication Regulatory reports
Regulatory reports serve as fact sheets that offer an overview of the legislative frameworks related to microcredit provision in Europe by non-bank financial intermediaries.
These reports address several key thematic areas:
- Regulation of lending activities
- Supervisory frameworks for non-bank lending
- Products, incentives, and support
- Development of the existing framework for non-bank microcredit provision
- Inclusive entrepreneurship and microenterprise development
The information in the reports is sourced from contributions made by EMN members operating in various countries.
Publication Regulatory reports
Regulatory reports serve as fact sheets that offer an overview of the legislative frameworks related to microcredit provision in Europe by non-bank financial intermediaries.
These reports address several key thematic areas:
- Regulation of lending activities
- Supervisory frameworks for non-bank lending
- Products, incentives, and support
- Development of the existing framework for non-bank microcredit provision
- Inclusive entrepreneurship and microenterprise development
The information in the reports is sourced from contributions made by EMN members operating in various countries.
Publication Regulatory reports
Regulatory reports serve as fact sheets that offer an overview of the legislative frameworks related to microcredit provision in Europe by non-bank financial intermediaries.
These reports address several key thematic areas:
- Regulation of lending activities
- Supervisory frameworks for non-bank lending
- Products, incentives, and support
- Development of the existing framework for non-bank microcredit provision
- Inclusive entrepreneurship and microenterprise development
The information in the reports is sourced from contributions made by EMN members operating in various countries.
Publication Regulatory reports
Regulatory reports serve as fact sheets that offer an overview of the legislative frameworks related to microcredit provision in Europe by non-bank financial intermediaries.
These reports address several key thematic areas:
- Regulation of lending activities
- Supervisory frameworks for non-bank lending
- Products, incentives, and support
- Development of the existing framework for non-bank microcredit provision
- Inclusive entrepreneurship and microenterprise development
The information in the reports is sourced from contributions made by EMN members operating in various countries.
Publication Regulatory reports
Regulatory reports serve as fact sheets that offer an overview of the legislative frameworks related to microcredit provision in Europe by non-bank financial intermediaries.
These reports address several key thematic areas:
- Regulation of lending activities
- Supervisory frameworks for non-bank lending
- Products, incentives, and support
- Development of the existing framework for non-bank microcredit provision
- Inclusive entrepreneurship and microenterprise development
The information in the reports is sourced from contributions made by EMN members operating in various countries.
Publication Regulatory reports
Regulatory reports serve as fact sheets that offer an overview of the legislative frameworks related to microcredit provision in Europe by non-bank financial intermediaries.
These reports address several key thematic areas:
- Regulation of lending activities
- Supervisory frameworks for non-bank lending
- Products, incentives, and support
- Development of the existing framework for non-bank microcredit provision
- Inclusive entrepreneurship and microenterprise development
The information in the reports is sourced from contributions made by EMN members operating in various countries.
Publication Regulatory reports
Regulatory reports serve as fact sheets that offer an overview of the legislative frameworks related to microcredit provision in Europe by non-bank financial intermediaries.
These reports address several key thematic areas:
- Regulation of lending activities
- Supervisory frameworks for non-bank lending
- Products, incentives, and support
- Development of the existing framework for non-bank microcredit provision
- Inclusive entrepreneurship and microenterprise development
The information in the reports is sourced from contributions made by EMN members operating in various countries.
Publication Microfinance overview surveys
Publication Microfinance overview surveys
Publication Microfinance overview surveys
Publication Microfinance overview surveys
Publication Microfinance overview surveys
Publication Annual report
In 2024, the European Microfinance Network (EMN) expanded its membership across Europe, strengthened its partnerships with relevant stakeholders, and continued to promote financial and social inclusion. By representing the microfinance and social economy in Brussels, EMN reasserted its position as the leading voice of the sector in Europe.
This report provides an overview of the main activities carried out by the EMN team and its partners during the previous year. It outlines EMN’s key objectives, which include ensuring fairer and inclusive finance for all, supporting underserved groups, and developing sustainable solutions for the microfinance sector.
