Microfinanzas BBVA Foundation

This relatively heterogeneous geographical area comprises the non-EU countries of Eastern Europe and the former Soviet-block countries of Central Asia. Its microfinance industry is marked by its immediate past, its economic traditions and its geopolitical location. In this region the concept of microfinance embraces larger companies than in the other regions included in this review, as evidenced by their average credit level, which is clearly higher than elsewhere.

The very different levels of development of the sub-regional microfinance markets are closely linked to their ages. Thus, while the Balkan countries are relatively highly developed, and the Caucasian sub-region and Russia are not far behind, Central Asia, where the sector is younger, is less developed.