Unlocking the potential of microcredit for a more dynamic Europe

Microcredit consists in the attribution of small loans to entrepreneurs or craftsmen who cannot access traditional bank loans. According to the NGO The Microcredit Summit Campaign, microcredit represented 11 billion dollars1 and had 190 million clients at the end of 2009. Among them 140 million women (74%), or 128 million poorest clients, among which 105 million poorest women (82%)2,3,4. In France, 12,000 microcredits were granted in 2010, for loans of up to 6,000 euros, with an interest rate of about 9.7% and a repayment rate of 94%5. The success rate of businesses created thanks to microcredit is said to be equivalent to the national average, with 68% still in business two years later5. In 2012, microcredit distributed by more than 3,000 microfinance institutions (MFIs) worldwide was worth $90 billion