Employment, Social Affairs & Inclusion

News 07/02/2019

Six microfinance institutions awarded under the European Code of Good Conduct for Microcredit Provision

On 13 December 2018, the Code of Good Conduct Steering Committee decided to award six microfinance institutions the certificate of compliance with the Code, based on the results of the evaluations. The certificate is valid for three years.

Six microfinance institutions awarded under the European Code of Good Conduct for Microcredit Provision

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The awarded microfinance institutions were:

  • NOA Sh.a. Albania
  • SIS Credit Bulgaria
  • FED Invest Albania
  • Confidi Terziario Emilia Romagna Società Cooperative (COFITER) Italy
  • Kreditna unija NOA Croatia 
  • Fredericks Foundation UK

Background

The European Commission has developed the European Code of Good Conduct for Microcredit provision to ensure high ethical lending standards and practices within the European microfinance sector.

Complying with, or endorsing the Code is a pre-condition for accessing EU funding under the EaSI financial instruments for microfinance, such as the EaSI Guarantee and the EaSI Capacity Building Investments Window.

Previously awarded microfinance institutions are:

  • Association pour le Droit à l'Initiative Economique (ADIE) France
  • Action Finance Initiative - AFI Greece
  • BCRS Business Loans Limited UK
  • C.A.R. CFR
  • C.A.R. DECEBAL
  • C.A.R. ULPIA
  • C.A.R. UNIREA
  • C.A.R. ZARAND
  • Crédal
  • FAER IFN
  • FONDI BESA
  • Good.bee Credit IFN
  • KEPA - MicroSTARS
  • Microfinance Ireland
  • MicroStart
  • PerMicro s.p.A.
  • Qredits Microfinanciering Nederland
  • Slovene Enterprise Fund
  • Towarzystwo Inwestycji Społeczno-Ekonomicznych SA (TISE)

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