2024 marked a successful year for MFC – read the annual report 2024

2024 marked a successful year for MFC, despite a challenging external environment characterized by instability and shrinking funding opportunities.

The audited financial statements for the year ending December 31, 2024, reflect the scale and strength of our work. MFC sustained a solid financial position, while our membership grew to 139 organizations. Collectively, 121 members engaged in at least 2 MFC-facilitated activities throughout the year.

One of our strategic priorities was to deepen member engagement. This was achieved through increased activity within our Action Groups, exploration of new technology partnerships to support the sector’s digital transformation and intensified advocacy efforts in Brussels to ensure EU-funded programs reach and effectively benefit the microfinance sector.

Support from the European Commission enabled continued delivery of capacity building and innovation financing under the SIFTA Program and Transform Together Fund, helping members and partners enhance their impact.

In response to recent migration trends in Europe, MFC undertook EU-level advocacy and research to identify service gaps for migrants. This work aimed to develop recommendations for expanding public support for migrant entrepreneurs. We also documented good practices in delivering business development services for refugees.

Supporting microfinance institutions in building partnerships and raising their visibility remained a core focus. MFC contributed actively to discussions with the European Commission to shape future support mechanisms. As a result of collaboration between the Commission, DG EMPL, EIB Advisory Services (fi-compass), Erste Group, EMN, FEBEA, Impact Europe and MFC, the first Central and Eastern Europe Social Economy Forum: Boosting Finance and Cooperation was held in Vienna − an important step forward for the region’s social economy agenda.

Our flagship events − the MFC Annual Conference in Cracow and the virtual Social Finance Vibe e-learning series − brought together over 800 participants for shared learning and connection.

MFC remains committed to fostering a vibrant community of practitioners − our members − working collaboratively toward meaningful, long-term impact.

Funded by the European Union. Views and opinions expressed are however those of the author(s) only and do not necessarily reflect those of the European Union or the European Commission. Neither the European Union nor the granting authority can be held responsible for them.