EFSE: Sustainable financing for entrepreneurs and households since 2005

The European Fund for Southeast Europe (EFSE) is an impact fund that takes a comprehensive approach to fostering economic development and prosperity in Southeast Europe and the EU Eastern Neighbourhood Region.

By investing in local financial infrastructure that provides dedicated financing to micro, small and medium enterprises, the fund supports the backbone of these regions' economy. What is more, EFSE helps create the conditions for local businesses to thrive by building the capacity of local financial institutions or facilitating knowledge-sharing through its Development Facility, and by providing on-the-ground training and mentorship through its Entrepreneurship Academy. In this way, the fund aims to achieve impact on both an individual and systemic level.


Our Impact

EFSE's mission is to foster economic development and prosperity in Southeast Europe and the EU Eastern Neighbourhood Region by supporting the success of micro, small and medium enterprises (MSMEs) and improving living conditions for households.

That is why EFSE invests in the ability of local financial infrastructure to supply the resources entrepreneurs and families need to thrive. By enabling these groups' access to responsible financing, EFSE strives for long-term, systemic impact.

The fund's investment activities are complemented by the nonfinancial support of the EFSE Development Facility, which builds capacities, facilitates knowledge exchange, and nourishes an environment for entrepreneurs to grow.


As of Q4 2023


Number of indirect jobs supported by MSMEs receiving financing through Partner Lending Institutions* (cumulative)

of which, women > 934,676 


Total volume of sub-loans enabled for MSMEs and households through EFSE financing (cumulative)


> 1.2 Million

Number of sub-loans facilitated to MSMEs and households (cumulative)


Share of total rural and MSMEs sub-loans disbursed below EUR 20,000 (current)


Share of total MSMEs and rural sub-loans disbursed in local currency (current)


Percentage of Partner Lending Institutions with dedicated rural & agri outstanding investments from EFSE (current)

> 49,799

Number of Financial Institution staff and entrepreneurs trained on EFSE priority topics (cumulative)

of which, women: >18,634

* Figure draws on Partner Lending Institutions reporting and estimations by EFSE.

News & Events

Luxembourg, 2 July 2024 – In a significant move to enhance economic resilience and business growth in Armenia, the European Fund for Southeast Europe…

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EFSE steps up recovery support to Ukrainian MSMEs through dedicated grant-linked financing in local currency
Berlin, 11 June 2024 – The European Fund…

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The European Fund for Southeast Europe (EFSE), advised by Finance in Motion, is launching a dedicated blended finance investment vehicle, the Ukraine…

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The European Fund for Southeast Europe (“EFSE”) invested in an inaugural local currency bond of Raiffeisen Bank Serbia (“RBRS”) with the issuance of…

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Get in touch

Interested in learning more about how the fund works, or seeking partnership opportunities? Contact an EFSE representative today.


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