European Fund for Southeast Europe (EFSE)

Project period: Since 2005

Project: World’s largest micro-finance fund with an average loan amount of EUR 6,388

As a flagship project of the German Development Cooperation and a successful example for a “public-private partnership” the structured fund unites a large number of public donors, international development banks and financial institutions as well as private institutional investors

Commissioned by: BMZ, EU, KfW, EBRD, EIB, IFC, FMO, OeEB, DANIDA, SDC, ADA, SMBCS; Government of the Republic of Albania, and many private investors

Partner: Hauck & Aufhäuser Fund Services (Fund Manager), Finance in Motion (Fund Advisor)

Beneficiary Countries: 16, including: Albania, Armenia, Azerbaijan, Bosnia-Herzegovina, Bulgaria, Georgia, Kosovo, Croatia, FYR Macedonia, Moldova, Montenegro, Serbia, Romania, Turkey, Ukraine and Belarus

Approach / Mission

Lending out credits to micro, small and medium-sized enterprises (MSMEs) as well as private households for housing modernisation measures in the countries of South-East Europe, Turkey and in the Eastern European Neighbourhood Region (ENR). The target groups are refinanced by the EFSE through qualified local financial institutions. By improving the provision of MSMEs with various adequate financial services, the EFSE actively contributes to the private sector development as well as secures and creates employment and income opportunities. By enabling private households to have access to loans for modernisation measures the project aims at improving standard of living for the people in South-East Europe.

EFSE-Commitment in Serbia (as of 31.12.2017)

Share of Serbia of total EFSE portfolio: 14%

Volume of loans to end borrowers (since its inception in 2005): EUR 1,218 billion

Number of loans to end borrowers (since its inception in 2005): 109,920

Average loan amount: EUR 2,530

In addition, the EFSE Development Facility has been organising 34 different steering measures, advanced trainings or training events for customers and partner institutions since its inception in Serbia with a promotional volume of more than EUR 1 million.

Implemented by