Read the MFC Annual Report 2023!

2023 proved to be a dynamic and milestone year for MFC! We celebrated our 25th anniversary and a decade of strategic collaboration with the European Commission, marking significant achievements in advancing the microfinance sector. Despite ongoing economic uncertainties and political challenges in Europe and Central Asia, MFC remained steadfast in delivering on its mission.

Our audited financial statements for the year ended December 31, 2023, highlight MFC’s robust financial health and resilience. With our membership expanding to 123 organizations, we facilitated over 600 member engagements throughout the year, underscoring our commitment to fostering collaboration and driving impact.

Key strategic priorities in 2023 included strengthening member engagement through expanded action group activities, forging new partnerships with technology providers to drive sector digitalization, and advocating in Brussels for EU-funded programs that benefit our sector. Through initiatives like the SIFTA program and Transform Together Fund, we mobilized significant resources to support innovation and skills development within financial institutions.

In response to migration challenges in Europe, MFC intensified advocacy efforts and conducted research to identify gaps in supporting migrant entrepreneurs, aiming to influence policy and increase public support. We also focused on enhancing business development services tailored to migrant needs.

Another strategic focus was expanding partnerships and visibility for microfinance institutions. MFC actively engaged with the European Commission to advocate for new support programs in the Balkans and collaborated with members to improve regulatory frameworks in Bulgaria.

Our premier networking and learning events, including the MFC Annual Conference in Montenegro and the virtual Social Finance Vibe, drew participation from over 800 stakeholders, fostering knowledge exchange and collaboration within our community.

As we look ahead, MFC remains dedicated to uniting practitioners and stakeholders towards our shared goals. We are excited to continue this journey with you.

MFC Management Team

Katarzyna Pawlak and Ewa Bańkowska

Explore more in our detailed report

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.