marking a 49.6% annual increase, supported by the Skills & Education loan
In 2023, MicroBank, the social bank of CaixaBank, significantly expanded its Skills & Education programme in Spain, financing a total of 1,019 projects aimed at education, training, and skills development for students. This marks a notable 49.6% increase from the previous year. The initiative, stemming from a partnership between MicroBank and the European Investment Fund (EIF), saw loans totaling €7.28 million, up by 63.7% compared to 2022, with an average transaction amount of €7,140, reflecting a 12.7% rise.
Since its inception in 2022, the Skills & Education programme has already benefited 1,895 students with funding amounting to €13.2 million. Targeting higher education, university degrees, master’s and doctoral programmes, digital skills, and professional training courses, the programme has particularly supported fields such as health and well-being, business administration and law, and education.
Cristina Gonzalez, General Manager of MicroBank, highlighted the programme’s rapid impact, stating, “In just over two years, the Skills & Education programme has proven to be an invaluable resource for facilitating employment opportunities and enhancing working conditions.”
One of the standout features of the Skills & Education loan is its accessibility to students in Spain, as it does not require a guarantor and covers not only tuition fees but also related expenses during studies or stays abroad. Moreover, it can be utilized for educational pursuits within any of the 27 EU Member States and associated countries, including Iceland, Liechtenstein, Norway, North Macedonia, Turkey, and Serbia. Notably, Imagin customers can apply for this loan entirely via mobile phone.
In addition to its student-focused initiatives, MicroBank has also dedicated efforts to support self-employed individuals, companies, and organizations seeking to enhance their services. This segment has received 325 loans totaling €45.2 million, primarily benefiting academic tutoring services, educational centers offering remedial and professional exam preparation courses, and computer literacy programs.
As part of CaixaBank’s Sustainable Banking Plan, MicroBank plays a pivotal role in promoting financial inclusion and socio-economic development, fulfilling unmet financial needs within various segments of the population. Supported by the European Investment Fund (EIF), the Council of Europe Development Bank (CEB), and the European Investment Bank (EIB), MicroBank continues to expand its microcredit offerings across Spain, collaborating with over 270 entities to ensure comprehensive support, knowledge sharing, and project oversight.
With CaixaBank as its sole shareholder, MicroBank is well-positioned to sustain and expand its social banking mission, leveraging CaixaBank’s extensive commercial network to provide high-quality service and a broad range of financial products to customers nationwide.
