Promoting responsible finance
The European Fund for Southeast Europe has always been a leader in promoting responsible finance practices and the delivery of financial services in the financial sectors of the region of Southeast Europe in a transparent and fair manner. This ranks above any return expectations. EFSE’s commitment to responsible finance stems first and foremost from the Fund’s social mission to improve the access of less privileged population groups to finance. Furthermore, stable and integer financial markets are the foundation to the EFSE business model and are particularly crucial for the long-term investment horizon of the Fund. EFSE actively demonstrates its commitment to responsible finance through action by, for example, promoting financial literacy among end-borrowers, adhering to responsible investing principles, or raising awareness of responsible finance among financial sector stakeholders.The EFSE approach
Responsible finance projects
Responsible finance presentations
Responsible finance studies
Responsible finance events
Why responsible finance?
Responsible finance has become an increasing concern in microfinance and traditional banking. Reports of high and opaque prices, unfair contract provisions, aggressive collections practices, and over-indebting clients have become more frequent in some markets. The recent global crisis heightened these concerns, with clients in many markets facing additional financial stresses as a result of higher prices, fewer remittances, or economic stagnation. Increased, specific efforts have to be made to ensure that end-beneficiaries of microfinance services receive safe, transparent, and appropriate products and that institutions demonstrate social performance. The focus is on products, processes and policies that avoid harmful treatment, fairly balance the interests of all stakeholders that are part of the financial markets – including users of financial services financial service providers and investors –, and achieve the social mission of microfinance.
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