Organisational structure

The European Fund for Southeast Europe has a highly lean, effective organisational structure. The General Assembly of Shareholders is the highest level of authority. The main decicision-making powers lie with the Board of Directors supported by its technical committees: the Investment Committee and the EFSE Development Facility Committee. KfW – an AAA-rated institution – is the Fund’s lead and initiator.

The Board of Directors comprises representatives from international financial institutions and donors, provides access to a wealth of diverse knowledge and experiences, and has the authority in decision-making.

It also appoints the Investment Committee – a specialist body that supports the Board in key decisions on investment transactions. The Development Facility of EFSE is operated separately alongside the Fund. All activities financed by the EFSE Development Facility require the prior authorization of the EFSE Development Facility Committee, which is made up of representatives from donor agencies that contribute grant funding to the EFSE Development Facility. The Investment Committee and the EFSE Development Facility Committee have delegated decision-making powers

The final, crucial link in the Fund’s organisational structure is the Advisory Group. Formed by the Governors and other high-level representatives from central banks in the target countries, this body provides EFSE with better linkages to local realities, concerns and needs, shares local experiences and makes recommendations to the Fund Management and the Board of Directors in terms of policies and operations.

The day-to-day management of both the Investment Fund and the EFSE Development Facility is entrusted to a group of professional service providers.

At a glance -
Organisational key features

Coordination of donors and development finance institutions:

the Board of Directors serves as a coordination platform for different donors and international financial institutions active in the region

Promoting regional coordination:

the Advisory Group comprised of Central Bank representatives of the region, plays a critical role in ensuring regional entrenchment. It provides the Fund with better linkages to local markets.

Combination of financial and non-financial services:

the Investment Fund and the Development Facility work jointly in support of the target group.

Professional management:

professional service providers support the board in the fund management and administration.

Performance incentives:

service fees are tied to the fulfilment of performance targets regarding financial and development performance.

At a glance - Board of Directors

Ms. Monika Beck, Chairperson

Dr. Christoph Achini

Mr. Syed Aftab Ahmed

Mr. Klaas Bleeker

Dr. Jochen Böhmer

Mr. Franz-Joseph Flosbach

Mr. Michael Neumayr

Mr. Marc Schublin

Mr. Roland Siller

At a glance - Investment Committee

Monika Beck
Michael Neumayr
Aftab Ahmed
Karlo de Waal
Lassmann Ulrike

At a glance - EFSE Development Facility Committee

Monika Beck
Kristin Duchâteau
Hans Ramm

At a glance - Advisory Group

National Bank of Albania
Central Bank of the Republic of Armenia
Central Bank of the Republic of Azerbaijan
Central Bank of Bosnia and Herzegovina
National Bank of the Republic of Belarus
Bulgarian National Bank
National Bank of Georgia
Central Bank of the Republic of Kosovo
National Bank of the Republic of Macedonia
National Bank of Moldova
Central Bank of Montenegro
National Bank of Romania
National Bank of Serbia
National Bank of Ukraine