Responsible finance – EFSE’s approach at the end-borrower level

Promoting financial literacy

The European Fund for Southeast Europe aims to enhance the level of understanding of financial terms and concepts among end-end-borrowers. The objective is to help clients make well-informed decisions regarding the financial services they need and ensure they are well-informed before entering into any relationships with financial service providers.

Preventing over-indebtedness

The financial crisis has shown that it is especially ill-informed clients who tend to accept higher loan amounts than they can afford. These clients encounter difficulties in servicing their debt once personal and macroeconomic conditions become challenging. The Fund aims to raise awareness among its final target group through public campaigns, working on industry codes of conduct to limit the debt burden to single client households and by supporting the set-up of debt advice centers.