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Updated Code of Good Conduct for Microcredit Provision enters into force


The updated European Code of Good Conduct for Microcredit Provision entered into force on 1 January 2021. As the European microfinance sector continues to focus its efforts on ensuring the continuity of its clients' businesses through 2021 and beyond, it does so according to the highest standards. Coordinated by the European Commission, the Code serves as a self-regulation tool and a quality label for microfinance institutions. The most notable changes in this revised version include:
✔ An extension of Code award period and mid-term progress reporting
✔ The completion of business description form at the pre-evaluation phase
✔ New mechanisms for appeals and non-compliance reporting