EFSE and Intesa Sanpaolo Banka in Bosnia and Herzegovina sign EUR 6 million credit line

Loan to address the housing needs of the low-income population in the country

Frankfurt am Main and Srajevo, April 08, 2010 – The European Fund for Southeast Europe (EFSE), the world’s largest microfinance investment fund, is extending a EUR 6 million credit line to Intesa Sanpaolo Banka d.d. Bosna i Hercegovina, Sarajevo, Bosnia and Herzegovina, to address the housing needs of the population of Bosnia and Herzegovina and improve living conditions in the country.

It is part of EFSE’s strategy to support housing finance in the financial market of Bosnia and Herzegovina. Particularly, this involves improving access to loans for housing and home improvement for low-income groups.

Mr. Almir Krkalic, Chief Executive Officer of Intesa Sanpaolo Banka d.d. BiH, said at the occasion of signing this contract, “Intesa Sanpaolo Banka d.d. BiH, member of Intesa Sanpaolo Group, since 2000 has had successful cooperation with EFSE. This new credit line in the amount of EUR 6 million is intended for financing retail housing loans. Our goal is to offer to our clients financing sources of a better quality and more simple conditions, in order to resolve their housing issues”.

Intesa Sanpaolo Banka d.d. BiH, member of Intesa Sanpaolo Group, provides services to 122,000 customers through a network of 47 branches. As a commercial bank, it offers a wide range of products both for corporate and retail customers.

“In Bosnia and Herzegovina, especially in areas outside urban centers, there is a great demand for better quality housing. EFSE’s loan to Intesa Sanpaolo Banka addresses this need and will help improve living standards”, said Sylvia Wisniwski, Chief Operating Officer of the EFSE.

Currently, the Fund has an outstanding portfolio of EUR 25 million with the Bank. These include funds for on-lending to micro and small enterprises as well as to individuals and families for housing and home improvement.

About Intesa Sanpaolo
Intesa Sanpaolo is among the top banking groups in the Euro zone and the leading player in Italy in the retail, corporate and wealth management business areas. Thanks to a well-spread network of 6,000 branches it offers a wide range of services to about 11.2 million customers in Italy. Intesa Sanpaolo’s international activities are focused in Central-Eastern Europe and in the Mediterranean basin, where it operates in 13 countries through retail and commercial banks with approximately 1,900 branches and 8.5 million customers. Moreover, an international network is present in 34 Countries to support corporate customers.

About the European Fund for Southeast Europe (EFSE)
With an outstanding investment portfolio of EUR 556 million (as of March 31, 2010), EFSE is the world’s largest microfinance investment fund. Aimed at fostering economic development and prosperity in the region of Southeast Europe, the Investment Fund offers long-term funding instruments to qualified local financial institutions for on-lending to micro and small enterprises (MSEs) and low-income private households. EFSE also runs a Development Facility whereby grants enable technical consulting and training measures to institutionally strengthen the Investment Fund’s partner lending institutions. Initiated by KfW, the EFSE is a investment company that falls under the jurisdiction of the Grand Duchy of Luxembourg in the form of a public limited company, qualifying as a société d'investissement à capital variable ("SICAV-SIF"). As the first Public-Private Partnership of its kind, EFSE combines public funding and private investment. The investor base is comprised of donors and international finance institutions, including: European Commission, Federal German Ministry for Economic Development and Cooperation (BMZ), the governments of Austria, Switzerland, Denmark and Albania, KfW, IFC, FMO Netherlands Development Finance Company, European Bank for Reconstruction and Development (EBRD), European Investment Bank (EIB) and Oesterreichische Entwicklungsbank (OeEB). In addition, private investors, such as Sal. Oppenheim and Deutsche Bank, contribute to the funding base. EFSE is a privately managed investment fund with Oppenheim Asset Management Services S.à r.l., Luxembourg, as the fund manager and Finance in Motion GmbH, Frankfurt/Main, Germany, as fund advisor.

Media contact

European Fund for Southeast Europe  Mr. Samir Djikić, Communications Manager, EFSE Tel: +49 (0)69 / 977 876 50-26 E-mail: press@efse.lu

Intesa Sanpaolo Banka d.d. Bosna and Herzegovina  Mrs. Suzana Ćerimagic, Head of Marketing, Communication and PR Department Tel: +387 33 497 545 E-mail: scerimagic@intesasanpaolobanka.ba