In this new iteration of the EMN Overview survey report, MFIs from 24 countries took part. In total, 150 out of 447 MFIs that were contacted provided data to the survey, translating to an overall response rate of 34%. Although this represents a decrease compared to the response rate of the previous survey, the absolute number of responses remained stable.
Both the overall total volume and the number of microloans reported, i.e. covering microloans for both personal and business purpose, show a steady growth of microcredit provision among the MFIs surveyed in Europe compared to past years. In detail, MFIs covered from the 24 countries disbursed a total of 387,812 microloans with a total volume 1.53 billion EUR in 2013. The trend is the same for organizations based in EU member states only: 207,335 microloans with a total volume of 1.26 billion EUR. Compared to the survey data from 2011, this translates to an increase of 45% of the total value of microloans and 69% of the number of loans in 2013 reported by the EU-based participants of the survey.
What are the primary driving forces behind this development?