Microcredit Guarantee Funds in the Mediterranean. A Comparative Analysis

The perspective adopted in the research is addressed to give a clear picture of microcredit sector/guarantee funds in the current scenario, in each macro Mediterranean area, focusing on three key investigation areas dedicated respectively to: the analysis of the regulatory framework of microcredit/microfinance sector, the mapping of microcredit/microfinance institutions and the analysis of the main features of guarantee funds. The analysis is finally addressed to highlight, in general, the strengths and weaknesses of the different typology of microcredit guarantee system. In doing so, the borders of a sustainable micro-finance in the two different macroareas are pointed out together with some regulatory or operative solutions which, once known, may improve the economic sustainability of the microcredit sector/institutions and, ultimately, can contribute to really facilitate the access to credit for microenterprises and microborrower. Whithin this framework the book aims to addresses the following research questions: • in which terms the regulatory framework of each country facilitates or hinders the development of a sustainable microfinance? • What is the structural configuration and the morphology of microcredit sector of each country belonging to the two areas of the Mediterranean basin? Do they constitute different business models? • How do the different actors involved in the microfinance sector use guarantee funds? • What are the main operational characteristics of these guarantee funds? Do they contribute to the development of a sustainable microfinance? Is it possible to find out some similarities between guarantee funds used in North Africa countries and those used in South Europen countries? What are the implications for the financial system and the economics sector of the countries analysed?