SIFTA: Inclusive Finance in Europe
Financial Inclusion & Social Entrepreneurship
Market development and capacity building for European microfinance and social enterprise finance sectors.
Duration
2022 - ongoing
Client
European Investment Bank (EIB)
Thematic Area
Financial Inclusion
Country Coverage
27 European Union Member States
Market development and capacity building for European microfinance and social enterprise finance sectors.
Project Overview
The European Investment Bank, under the InvestEU Advisory Hub, reinforces the European Microfinance and Social Enterprise Finance sectors through market development activities, capacity building services as well as rating, assessment and evaluation services. This is done through the Social Inclusive Finance Technical Assistance (SIFTA) project that has been implemented since July 2022.
The technical assistance team responsible for market development activities and capacity building services consists of a consortium led by Frankfurt School and its partners, the Microfinance Centre and the European Microfinance Network.
How We Do It
SIFTA provides support to microfinance and social enterprise finance providers through tailored training, workshops and webinars, peer-to-peer exchanges, and study visits on a wide range of topics related to financing micro and social enterprises. The project also delivers rating, assessment and evaluation provided by MFR.
In view of the on-going exercise aimed at revising and updating the European Code of Good Conduct for Microcredit Provision (the Code), microfinance institutions requesting services in connection with the Code (i.e. evaluation, renewals and training on the Code) will be assessed in accordance with the new Code framework entering into force in 2027. From 2027 onwards, all microfinance institutions will be assessed exclusively in accordance with the new Code.
What We Bring Together
This new initiative arrives to bring continuity to the EaSI TA Programme in a much more challenging international scenario. Frankfurt School of Finance & Management and its partners bring together the good practices and lessons learned from the successful results achieved in the framework of the EaSI TA Programme implementation, with a flexible approach that provides tailored support to the European Microfinance and Social Enterprise Finance providers.
In the last two predecessor initiatives from 2015 - 2021 namely the EIB Joint Action to Support Microfinance Institutions in Europe (JASMINE) pilot project and EaSI Technical Assistance, we have amongst others provided trainings to more than 130 microfinance providers and organised events that reached out to almost 6,800 participants in the EU.
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