PUBLICATIONS
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.
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.
Publication Microfinance overview surveys
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.
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 November 2025.
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 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 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 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
Publication Regulatory reports
Publication Regulatory reports
In this publication, the European Microfinance Network describes the latest legislative developments in Greece regarding microfinance.