The European Investment Bank Group has a longstanding track record in microfinance, supporting leading microfinance institutions, fund providers and stakeholders, helping them to address specific market failures and promoting financing solutions to micro, small and medium enterprises, as well as to low income groups. Since 2003, the EIB Group has committed EUR 881m to microfinance activities, in nearly 50 countries, inside the European Union, in EU Neighbouring and in Candidate countries, and outside the European Union, where the Bank is active across sub-Saharan African, Pacific and Caribbean countries, operating under the Cotonou mandate. The Bank is further involved in initiatives with Mediterranean partner countries.