Impact

Having served approximately 290,000 subborrowers with a total amount of EUR 1.7 billion, creating 290,000 new jobs, the European Fund for Southeast Europe has shown remarkable social impact. Regarding the support to enhance capital formation in micro and small enterprises, roughly one third - EUR 505 million - were provided for financing fixed assets. The 2008 EFSE Development Impact Study also confirmed that 82% of the EFSE sub-borrowers note a very significant or significant turnover increase as a result of the loans received from EFSE financing.

Until 2014, the Fund expects to reach out to more than 300,000 target firms in 16 countries, providing EUR 2 billion funding with the aim to generate another more than 400,000 jobs.