The microfinance sector has been hit hard by the financial crisis, not only due to higher interest rates but even more significantly due to the lack of availability of funds for such purposes. In this respect, EFSE plays a key role in providing a stable funding source for development finance and the micro and small enterprise sector.
In times of economic crisis, continued access to finance for small businesses is essential. They are at the heart of the economy. Development finance must operate counter cyclically, which means fighting the credit crunch around the globe, in particular in emerging Europe including Southeast Europe, and that is exactly what EFSE does.