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MICROFINANCE
We promote microfinance as a tool to overcome social and financial exclusion.
EMN
Conference 2026
Join us in Barcelona, Spain, from 14-16 October 2026, for insightful discussions and networking.
Resilience
Financial Health
Supporting vulnerable entrepreneurs through economic challenges.
European
Highlighting the impact of microfinance on social and economic inclusion since 2014.
Peer-to-Peer
visits
Exclusive for EMN members to explore best practices and deepen expertise on key themes
Latest opportunities
MICROFINANCE
Discover open calls for proposals, applications, and expressions of interest in the microfinance sector
Shaping the future of microfinance
Our work

Advocacy
The development of microfinance in Europe has encountered many legal and political obstacles. It is therefore important that the European Microfinance Network be strongly involved in advocacy on a wide range of issues related to microfinance, micro-enterprises, social and financial exclusion, self-employment and employment creation.

Knowledge Exchange
The peer-to-peer exchange visits, exclusively intended for EMN members, provide each EMN member with the opportunity to visit another member on a specific theme, in order to deepen the understanding of their work, to encourage exchange of good practices and to develop expertise. These bilateral exchanges, tailor-made to members’ needs and expectations, also facilitate cooperation and collaboration between EMN members.

Research
The development of microfinance in Europe has encountered many legal and political obstacles. It is therefore important that the European Microfinance Network be strongly involved in advocacy on a wide range of issues related to microfinance, micro-enterprises, social and financial exclusion, self-employment and employment creation.

Working Groups
EMN organises Working Groups to strengthen the involvement of its members in the Network. The activities carried out by the different Working Groups are very diverse: organisation of workshops, elaboration of research papers, publications, creation of new tools for microfinance management, etc.
Discover who we are
About us
European Microfinance Network is an NGO that connects microfinance institutions, social finance organizations, and other stakeholders throughout Europe (EU and candidate countries). Since 2003, with the help of members from EU countries and candidate countries, EMN has played an important role in cultivating collaboration, encouraging innovation, and knowledge sharing across the microfinance ecosystem. We partner with EU institutions like the EIF and EIB, as well as corporations, to implement projects across Europe. EMN, together with other partners, also developed the Code of Good Conduct to ensure high standards in microfinance operations and protect clients’ interests.
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Our network
We are proud to have 95 members from 23 countries, including EU and candidate countries. Among these, 27 organizations follow the Code of Good Conduct, showcasing their dedication to high standards in microfinance. Inside EMN there are 11 national networks that are focused on advocating for microfinance as a tool for overcoming social and financial exclusion. Inside of EMN members are collaborating across regions in project consortia and also establish partnerships between themselves for developing dedicated financial products.
EMN amplifies its support for its members through partnerships with companies offering tailored value, enabling the creation of customized events and services. Members also receive assistance from EMN in applying for SIFTA technical support, organizing study visits, and obtaining the COGC. Additionally, EMN offers its support and knowledge to members in conducting research on specific needs, like impact assessments, ensuring they are well-equipped to thrive in the evolving microfinance landscape.
Explore our latest news
Latest news
In the heart of Satu Mare, a remarkable story unfolds, showcasing resilience, ambition, and culinary artistry through the achievements of Victorina Matveev. Her journey from a student at the Police Academy to a successful entrepreneurial figure in the pastry world is both motivational and inspiring.
Victorina faced significant challenges early in her life. In her third year at the Police Academy, she experienced the heartbreaking loss of her father. With her mother struggling with illness and tuition fees looming, she made the brave decision to work abroad. This choice not only provided financial support for her family but also set her on the path that would ultimately lead to her success.
Her initial foray into the workforce came at a pastry shop, a serendipitous opportunity that ignited a passion for confectionery and baking. Over the course of 13 years, Victorina honed her skills, perfecting her recipes and techniques, which fostered a deep commitment to her craft. Six years ago, she returned to Romania with a compelling goal: to establish her own pastry shop and share her rich experience with her homeland.
To pave the way for her new venture, Victorina participated in the renowned Romanian cooking show “Chefi la Cutite.” Her impressive performance, reaching the semi-finals, not only showcased her culinary talent but also provided a significant boost to her visibility and credibility. This exposure laid the foundation for launching her pastry laboratory, driven by her desire for financial independence and a passion for creating beautiful desserts.
Cofetăria Victorina soon became a beloved destination in Satu Mare, where customers are greeted by the irresistible aromas of vanilla, cocoa, and fresh fruits. Every creation, from elegant eclairs to modern desserts, reflects her artistry and dedication. The shop has gained a reputation not just for its exquisite cakes and pastries, which cater to a variety of tastes, but also for its warm and inviting atmosphere that draws in sweet lovers from near and far.
Despite facing obstacles, including difficulty accessing traditional bank financing due to a lack of credit history and real estate collateral, Victorina’s determination shone through. With strategic financial support, she was able to acquire the necessary equipment to expand her offerings, allowing her to diversify her products and solidify her business’s stable cash flow.
Today, Cofetăria Victorina stands among the most highly regarded pastry shops in Satu Mare County, a testament to Victorina’s unwavering perseverance and talent. Her success has not only transformed her life but also contributed to the local economy by creating job opportunities and enhancing the culinary landscape of the region.
Looking towards the future,Victorina is considering expanding her operations to neighboring counties, further cementing her legacy in the Romanian pastry scene. Her journey is an inspiring reminder that with hard work, passion, and resilience, it is possible to rise above adversity and achieve one’s dreams. In every cake she crafts, Victorina not only fulfills her own ambitions but also brings joy and sweetness to countless others.
Founded in 2017 by Andrei Varut, Luxuro SRL stands as a remarkable example of entrepreneurial success in Romania’s fashion materials sector. From its inception, the company was driven by Varut’s passion for tailoring and a keen awareness of a gap in the market for high-quality materials for wedding and occasion dresses. His vision transformed Luxuro SRL from a budding startup into a recognized premium brand within a short span.
One of the company’s notable achievements is its commitment to local production. By sourcing fabrics and lace produced in Romania, Luxuro SRL not only emphasizes quality but also supports the development of the local textile industry. This dedication to local craftsmanship has allowed the company to solidify its reputation as a supplier of top-notch materials.
In its pursuit of excellence, Luxuro SRL has significantly expanded its market presence. In 2025, the company reported a turnover of 2,437,233 RON, along with a profit of 360,818 RON, showcasing consistent and healthy growth. This financial success underscores the effectiveness of Varut’s strategies and the strong demand for Luxuro’s offerings in both local and international markets.
A decisive moment in the company’s journey came in 2025 when it faced urgent cash flow challenges. The need for immediate funding to purchase raw materials was critical for maintaining production levels and fulfilling important orders. In this pivotal time, BCR Social Finance stepped in, providing a loan of 200,000 RON. This support enabled Luxuro SRL to stabilize its operations and resume its growth trajectory, exemplifying the essential role of financial partnerships in business success.
Today, Luxuro SRL continues to thrive, with the company recently expanding its workforce from 5 to 7 employees. This growth reflects not only the increasing demand for its products but also a commitment to contributing to job creation within the local economy. In line with its ambitious growth strategy, Luxuro plans to enter the Polish market, focusing on establishing a dedicated online presence to facilitate sales and enhance customer experience.
Furthermore, the company’s forward-looking strategy aims to position Luxuro SRL as a prominent name in international markets, with aspirations of becoming a leading lace brand in Europe. This vision indicates a robust growth potential recognized by BCR Social Finance, which views the company as a strong candidate for further development in the corporate segment.
As Luxuro SRL embarks on its next chapter, its achievements serve as a source of inspiration for aspiring entrepreneurs. By combining quality products, a commitment to local industry, and an adaptive approach to market challenges, Andrei Varut has not only carved out a niche for Luxuro SRL but also contributed significantly to the broader textile landscape in Romania.
In the heart of Timiș County, a remarkable story of perseverance and dedication unfolds through the journey of Corina Popa, a pharmacist with over 20 years of experience in the pharmaceutical field. Driven by her passion for improving healthcare access in rural areas, Mrs. Popa transformed her vision into reality by establishing two pharmacies in the communities of Alios and Fibis.
Mrs. Popa’s path to entrepreneurship began after her extensive experience working in various pharmacies, where she developed a deep understanding of patients’ needs and the intricacies of the healthcare system. Recognizing the challenges many faced in obtaining essential medications, especially those living in rural locales, Mrs. Popa took a bold step in 2006 to start her own business. She identified a significant gap in access to medicines, with many patients struggling to travel to urban centers for their treatments, often risking interruptions to their medication regimens.
Through her pharmacies, Mrs. Popa not only bridged this gap but also offered services that were crucial for the local population. The pharmacies have secured contracts with the Timiș Health Insurance House, enabling them to provide reimbursed medicines, which effectively lowers treatment costs for patients. This initiative has been especially beneficial in rural areas, where healthcare resources are often limited.
However, the journey was not without its challenges. Operating in a rural setting with a relatively small business made accessing traditional bank financing difficult, often due to the long payment cycles associated with health insurance reimbursements. To navigate this financial pressure, Mrs. Popa leveraged microfinance solutions, obtaining two crucial loans that facilitated the growth and stability of her business. These funds allowed her to manage cash flow effectively, maintain positive supplier relationships, and invest in renovations to modernize her pharmacies, aligning them with the standards of the Public Health Directorate.
Today, Mrs. Popa’s pharmacies stand as a testament to her commitment to community service and healthcare quality. With a solid base of loyal customers built over the years, the business is stable and thriving. As she looks to the future, plans for expansion are already in motion, with aspirations to open a new location in Timiș County. Additionally, collaboration with local doctors to offer additional medical services is on the horizon, further enhancing healthcare access for the region.
The social impact of Mrs. Popa’s business is profound. By ensuring access to essential medications, her pharmacies play a pivotal role in improving public health in rural areas. Furthermore, her business fosters economic growth by creating jobs and supporting local suppliers, reinforcing the interconnectedness of community health and local economies.
As a shining example of what can be achieved through determination and a genuine desire to uplift her community, Mrs. Popa’s journey is an inspiration. Her experience and strategic management not only highlight the importance of adaptive entrepreneurship but also serve as a beacon of hope for those striving to improve healthcare access in underserved areas. Through her vision and hard work, Mrs. Popa continues to make a significant impact on the lives of many, proving that compassionate healthcare can thrive even in the most challenging circumstances.
In the dynamic landscape of early childhood education, few stories illustrate the impact of passion and determination as poignantly as that of Mrs. Miron, co-founder of Camigo Primary School in Cluj-Napoca. With a decade of experience as a preschool teacher, she, along with her husband and mother, embarked on a transformative journey in 2014 by establishing the Camigo Association. Their mission: to provide quality educational services in a nurturing and modern environment for young children.
Initially, Camigo began its operations in a modest rented space on Alexandru Vlahuță Street. In a remarkably short span of time, the association began enrolling its first children, marking the beginning of a venture that would soon flourish. The steady growth of the institution reflected Mrs. Miron’s deep understanding of both educational needs and market demands. By 2019, as the demand for services escalated, they transitioned to the Extended Program Kindergarten Camigo, which would evolve into the now-renowned Camigo Primary School.
A significant milestone in their journey was achieved in 2019 when Camigo received accreditation, allowing the institution to operate with enhanced legitimacy and credibility. This critical step opened doors to new funding opportunities, including support from Cluj City Hall, which substantially aided in scaling operations. However, even as the pandemic struck in 2020, affecting many businesses worldwide, Mrs. Miron’s adept management ensured that Camigo not only weathered the storm but continued to expand rapidly.
The financial growth of Camigo Primary School is evident in its impressive turnover figures: from 4,303,962 RON in 2021 to a projected 10,429,886 RON in 2024. Additionally, the establishment of multiple locations in Cluj-Napoca, with investments totaling approximately 120,000 EUR for infrastructure, demonstrates a proactive approach to meeting increasing demand.
The role of BCR Social Finance was pivotal, providing the necessary financing that enabled Camigo to secure ownership of its operational spaces, thus reducing dependence on rentals and ensuring long-term stability. This strategic move solidified Camigo’s presence in the education sector, allowing it to serve a growing number of children and their families.
Today, Camigo Primary School operates out of three locations, catering to around 227 children with a dedicated team of 64 employees. The institution offers a comprehensive range of services, including nursery and kindergarten programs, after-school activities, and in-house catering. These offerings reflect Mrs. Miron’s vision of creating a holistic educational environment that supports children’s development beyond traditional classroom walls.
The impact of Camigo extends far beyond its classrooms. As a vital resource in the local community, the institution plays a crucial role in supporting families and enhancing the educational infrastructure in the area. By creating job opportunities and providing quality education, Camigo is making a lasting difference.
Mrs. Miron’s journey, characterized by her steadfast commitment to education and community development, stands as an inspiring example of what can be achieved through vision and resilience. As Camigo Primary School continues to grow and adapt, it remains dedicated to fostering a safe, enriching environment for the next generation of learners, underscoring the significance of compassionate leadership in shaping the future of education.
Explore our latest publications, reports, and insightful studies
Latest publications
2025 edition of PerMicro’s Sustainability Report (IT).
Download Bilancio Sostenibilità 2025_PerMicro.
Annual report
Annual report
This 13th edition of the Survey on Microfinance in Europe, produced by the European Microfinance Network (EMN) and the Microfinance Centre (MFC), draws on data from 198 microcredit providers operating across 30 European countries in 2024.
While the primary focus is on EU-27 countries, the survey also includes data from candidate and potential candidate countries, offering a comprehensive picture of the sector’s European footprint. This edition places a particular emphasis on social outreach to vulnerable groups and microbusinesses.
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