The work of savings banks in microcredit in Europe (10 May 2011) Joint conference of the European

European Savings Banks Group - aisbl

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The work of savings banks in microcredit in Europe (10 May 2011)

Joint conference of the European Savings Banks Group (ESBG) and the European

Microfinance Network (EMN) held in Brussels, Belgium

On Tuesday 10 May, the European Savings Banks Group (ESBG) and the European Microfinance

Network (EMN) hosted a joint conference in Brussels entitled “The work of savings banks in

Microcredit in Europe”. Approximately 40 policymakers, ESBG and EMN members attended the

event. The session was introduced by Mr Daniel Sorrosal, Executive Director of EMN, and by Mr

Raymond Maes, from the European Commission Directorate-General for Employment, Social

Affairs and Inclusion.

Mr Sorrosal stated during his welcome speech that both ESBG and EMN share a common interest

in the development of microcredit in Europe, as well as common members that are very active in

this field. Savings banks are very important actors in the microcredit field in Europe, nonetheless

their activities are often less known by both policymakers and the public at large. The 10 May event

intends to give visibility to the activities of savings banks in microcredit in Europe. EMN and

ESBG want to contribute to the development of microcredit in Europe by:

• coordinating their work as European networks;

• showcasing the work of their members;

• facilitating the exchange of best practices;

• allowing debate to take place directly between policymakers and practitioners as an important

contribution to this development.

The growing importance of microfinance in Europe over the past decade was highlighted as well as

the growing interest of the European institutions in microfinance, which has become an integral

part of current key European policies and has led to the launch of specific instruments for its

development. In addition, microcredit plays a very important role in the Europe 2020 strategy, as a

tool to promote growth, employment and social inclusion.

In Europe several approaches co-exist today in the provision of microcredit:

• organisations that focus on the development of small and micro-enterprises, targeting start￾ups and existing small enterprises, viable businesses and financing on the basis of a business

plan;

• organisations that focus on the financing of self-employed persons, providing coaching and

financing and targeting new solo entrepreneurs, often coming out of unemployment;

• organisations that focus on extending access to finance by the provision of credit, savings

products and other services to people excluded from the traditional banking sector.