SpainNAB recently had the opportunity to take part in a key event held in Bilbao focused on microfinance and financial inclusion, where a new public microcredit facility promoted by the Provincial Council of Bizkaia through Bizkaia Mikro was formally presented.
This new instrument has a clearly social purpose: to facilitate access to financing for self-employed individuals with ongoing businesses who face barriers in the traditional financial system, thus contributing to the consolidation and growth of their economic activity.
A public instrument to close gaps
Throughout the day, the innovative nature of this initiative was highlighted, positioning the public sector as an active agent in generating positive impact. The microcredit line is expected to mobilize more than €600,000 in its first year, with approximately 60 operations aimed at self-employed individuals.
One of the most relevant aspects of this instrument is that it is built on two fundamental principles: additionality and complementarity, as highlighted by Marcos Salinero, Director of Bizkaia Mikro. On the one hand, additionality refers to the ability of public capital to reach where the traditional financial market does not, addressing situations of financial exclusion that leave viable projects behind. On the other hand, complementarity underscores the role of microfinance as an ally—rather than a substitute—of the banking system, providing financial breathing space to self-employed individuals and small businesses that cannot access credit at certain stages. This support not only helps sustain their activity and financial stability, but also fosters their growth, enabling them over time to integrate into conventional financial circuits. In this way, a virtuous cycle is created that strengthens the economic fabric, reduces gaps, and contributes to more inclusive development.
This role of the public sector is essential to building a more inclusive financial system, capable of supporting those who, despite having viable projects, remain excluded from conventional credit channels.
A collective space on impact microfinance
In the morning, we had the opportunity to take part in a working session alongside key actors from the impact finance, microcredit, and social entrepreneurship ecosystem.
In this space, organizations such as the European Investment Fund (EIF) and Treball Solidari shared updated data on the state of microfinance, highlighting both its potential and the challenges ahead. Initiatives such as those led by Treball Solidari—recently supported by the Social Impact Fund (FIS) of COFIDES—demonstrate the transformative role of these instruments in creating economic opportunities for people in vulnerable situations.
Building on this analysis and the complementary perspectives of participants, we co-created a set of ten principles on how microfinance operates, structured around its capacity to generate value and address the financial exclusion faced by entrepreneurs and microenterprises.
This exercise reflected a shared vision: microfinance is not just a financial tool, but also a mechanism for inclusion, social cohesion, and sustainable economic development.
Appreciation and looking ahead
The event also stood out for its thoughtful organization and the quality of the dialogue among participants, as well as for the energy and commitment of the Bizkaia Mikro team, whose conviction that the financial system can—and should—serve society and the challenges we face was truly inspiring.
From SpainNAB, we would like to express our gratitude for the invitation and the opportunity to participate in this space, which reinforces the need to continue promoting impact-oriented financial instruments, particularly from the public sector.
Moving towards a more inclusive economy requires precisely these types of initiatives: mechanisms that combine financing, support, and purpose, ensuring that access to capital is not a barrier, but rather a driver of development for all.
