Organisational Structure

While the General Assembly of Shareholders is the highest level decision-making authority, day-to-day decisions are delegated to the Board of Directors and the Investment Committee. Representatives from investing parties participate in the Fund's Investment Committee (a technical body elected by the Board of Directors). It decides on each investment transaction and supports the Board of Directors in all technical aspects.

The EFSE Development Facility operates independently alongside the Fund.

All activities carried out and financed by the Development Facility are subject to the approval of the Development Facility Committee's, representatives from grant funding institutions.

Complementary and efficient features:

• Coordination of donors and development finance institutions: the Board of Directors serves as a coordination platform for different donors and international finance institutions active in the region. The Fund thus complements existing initiatives and strives to harmonise efforts in development finance. 
• Promoting regional coordination: the Advisory Group to the Board of Directors, 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 are in charge of fund management and administration. They are selected through an international tender process.
• Performance incentives: service fees are tied to the fulfilment of performance targets regarding financial and development performance.