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The Microfinance Sector In Europe

Author

Listed:
  • PUERTO, Jorge Ramirez

    (European Microfinance Network)

  • MANTA, Otilia

    (The School of Advanced Studies of the Romanian Academy Department of Economics, Sociology and Law)

Abstract

Microfinance in Europe is gradually being consolidated as an essential tool of social policy, for the promotion of self-employment, microenterprise support and the fight against social and financial exclusion. This is demonstrated by the renovation of the initiatives in support for the sector by the European Commission in the framework of the Program for Employment and Social Innovation (EaSI) 2014-2020. This work is intended to present the main characteristics of the European microfinance sector and how the provision of financial and non-financial services could help entrepreneurs to overcome the challenges to rural development, thereby supporting their businesses and boosting the local economy. In this regard, microfinance often targets unemployed or people excluded from the traditional banking system who wishes to start their own business, significantly contributing to self-employment and job creation.

Suggested Citation

  • PUERTO, Jorge Ramirez & MANTA, Otilia, 2016. "The Microfinance Sector In Europe," Journal of Financial and Monetary Economics, Centre of Financial and Monetary Research "Victor Slavescu", vol. 3(1), pages 131-134, October.
    • Handle: RePEc:vls:rojfme:v:3:y:2016:i:1:p:131-134
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    More about this item

    Keywords

    Microfinance; European Union; microcredit; business; rural areas;
    All these keywords.

    JEL classification:

    • G20 - Financial Economics - - Financial Institutions and Services - - - General
    • G21 - Financial Economics - - Financial Institutions and Services - - - Banks; Other Depository Institutions; Micro Finance Institutions; Mortgages
    • Q01 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - General - - - Sustainable Development
    • Q14 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Agriculture - - - Agricultural Finance

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