Funding for the EFSE

Donors are essential to the EFSE’s operations: the grants they provide serve to leverage private capital through the creation of different risk tranches and a waterfall repayment mechanism. Donor funds constitute the risk cushion (C shares - first loss tranche) for private investors who otherwise would be reluctant to invest in countries that are generally perceived as high risk. This enables private capital to be mobilised, substantially expanding the total amount of funding available for development purposes.

Grants in the form of risk capital are also relevant for

  • Starting EFSE operations in new countries, and
  • Introducing new financial instruments and higher-risk products.

This leveraging potential is critical to the EFSE’s ability to contribute to, drive even, the development of capital markets in the target regions when economic growth more than ever depends on access to long-term financing. Importantly, the public funds comprising the EFSE’s first loss tranche are not ‘new’ public funds that have been allocated to development purposes. Rather, funds from existing bilateral donor programs were transferred into the EFSE at its inception in December 2005.



Words from our Donors

  • Dirk Niebel, former Minister of the Federal German Ministry for Economic Cooperation and Development

    "In 2011, the eurozone debt crisis was a heavy brake on economic recovery in the Fund’s target region, where many markets were still reeling from the aftermath of the global fi nancial crisis. Once again, the European Fund for Southeast Europe emerged not only unscathed, but strengthened. This would not have been possible without the Fund’s innovative public-private partnership structure, which from the beginning had the full support of the Federal Ministry for Economic Cooperation and Development (BMZ)."

    Dirk Niebel, former German Federal Minister for Economic Cooperation and Development

  • Stefan Füle

    "The success of the EFSE has also been confirmed by the EU ’s comprehensive results-oriented monitoring system for EU projects, which attested the EFSE an A rating in all relevant metrics – relevance, efficiency, effectiveness, impact and sustainability."

    Štefan Füle, former European Commissioner for Enlargement and European Neighbourhood Policy

  • Dr. Gerd Müller

    "The EFSE and its inclusive approach to development finance, combined with hands-on technical support for partner institutions that channel EFSE funds, are enabling the BMZ to achieve its goals in support of developing economies more efficiently and more speedily."

    Dr. Gerd Müller, German Federal Minister for Economic Cooperation and Development

  • "The Directorate General for European Neighbourhood Policy and Enlargement Negotiations (DG NEAR) will continue supporting the aspirations of the partner countries. To this end the EFSE, too, will remain one of the DG NEAR flagships as a world leader in boosting access to finance for the smallest and the most needing enterprises. "

    Jean-Eric Paquet, Director for Western Balkans, European Commission, Directorate General for Neigbourhood and Enlargement Negotiations

Contact Point for Donors

KfW Christoph Tiskens Palmengartenstr. 5-9 60325 Frankfurt am Main Germany

Christoph Tiskens, KfW
Phone E-Mail
+49 (0)69 7431 4260 christoph.tiskens@kfw.de
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Contact point for consultants

Your direct contact to answer your questions and to provide you with the details that you need in order to apply as an EFSE Development Facility consultant is:

Contact point for donors

To discuss how the European Fund for Southeast Europe can help you or your donor agency, please contact the Initiator of the EFSE, KfW Entwicklungsbank, at the following address:

Contact points for financial institutions

For more information about the European Fund for Southeast Europe and becoming a partner lending institution of EFSE or beneficiary of technical assistance services provided by the Fund, financial institutions can contact their regional office of the EFSE Fund Advisor, Finance in Motion:

Contact points for investors

International financial institutions interested in learning more about the European Fund for Southeast Europe can contact the EFSE Initiator, KfW Entwicklungsbank, private investors the EFSE Fund Advisor, Oppenheim Asset Management Services:

Contact point for journalists

For additional information on the European Fund for Southeast Europe or for any media-related queries, media representatives can contact the EFSE Fund Advisor, Finance in Motion:

General Inquiries

To obtain general information about the European Fund for Southeast Europe, please contact EFSE’s Fund Advisor, Finance in Motion:

Contact point for complaints

For any complaints about the European Fund for Southeast Europe, please use the following email address: complaints@efse.lu.

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