With KfW – an AAA-rated institution – as its lead investor and initiator, the EFSE benefits from a lean organisational structure. The main decision-making powers rest with the Board of Directors, which is supported by technical committees, i.e. the Investment Committee and the EFSE Development Facility Committee. The General Assembly of Shareholders is the EFSE’s highest authority.

EFSE organizational structure

The Board of Directors comprises representatives from international financial institutions and donors, and can thus tap a wealth of knowledge and experiences. It also appoints the Investment Committee – a specialist body consisting of seasoned bankers with a strong development finance background – to consult and decide on each investment.

The EFSE Development Facility is operated as a separate entity alongside the EFSE. All activities financed by the EFSE Development Facility require prior authorisation by the EFSE Development Facility Committee, which itself is made up of representatives from the main donor agencies that contribute funding specifically to the EFSE Development Facility. The Investment Committee and the EFSE Development Facility Committee have delegated decision-making powers.

The final, crucial link in the EFSE’s organisational structure is the Advisory Group to the Board of Directors. Comprising central bank governors and other high-level representatives from the central banks of the target countries, this body meets twice a year. This panel provides the EFSE with better linkages to local realities, shares local experiences and insights, and makes policy as well as operational recommendations to the Fund Management and the Board of Directors.

The day-to-day management of both the Investment Fund and the EFSE Development Facility is entrusted to a group of professional service providers.

Organisational Structure – Key Features

Coordination of donors and development finance institutions

The EFSE’s Board of Directors serves as a coordination platform for different donors and development finance institutions active in the target regions. The EFSE aims at complementing existing initiatives of local governments, donors and development finance institutions, and strives to harmonise efforts.

Physical presence in the region

In most countries of operations, local offices facilitate day-to-day contact with partner lending institutions and local stakeholders.

Local participation

Through the EFSE’s Advisory Group, local governments, as future shareholders, can familiarise themselves with the Fund and prepare for their future role.

Combination of financial and non-financial services

The EFSE’s Investment Fund and the EFSE Development Facility work jointly in support of the target group.

Professional management

Professional service providers are in charge of fund management and administration.

Performance incentives

Service fees are tied to the fulfilment of performance targets regarding financial and development performance.

Contact us

Committee Members

Board of Directors

  • Mr. Christoph Tiskens, Chairperson
  • Dr. Christoph Achini
  • Mr. Syed Aftab Ahmed
  • Mr. Hubert Cottogni
  • Mr. Franz-Joseph Flosbach
  • Mr. Nico Pijl
  • Mr. Peter Reiniger
  • Mr. Roland Siller
  • Mr. Dominik Ziller

Investment Committee

  • Ms. Esther Gravenkötter, Chairperson
  • Mr. Syed Aftab Ahmed
  • Mr. Markus Aschendorf
  • Mr. Karlo de Waal
  • Mr. Peter Reiniger

EFSE Development Facility Committee

  • Mr. Markus Aschendorf, Chairperson
  • Ms Kristin Duchâteau
  • Ms Eva van den Heuvel
  • Mr Hans Ramm

Advisory Group

  • National Bank of Albania
  • Central Bank of the Republic of Armenia
  • Central Bank of the Republic of Azerbaijan
  • Central Bank of Bosnia and Herzegovina
  • National Bank of the Republic of Belarus
  • Bulgarian National Bank
  • National Bank of Georgia
  • Central Bank of the Republic of Kosovo
  • National Bank of the Republic of Macedonia
  • National Bank of Moldova
  • Central Bank of Montenegro
  • National Bank of Romania
  • National Bank of Serbia
  • National Bank of Ukraine

Service Providers

Fund Manager

Advisor

Custodian and Administrative Agent

facebooktwitteryoutubeRSS Feeds

Get in touch…

Use our Contact Form

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 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:

Contact point for complaints

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

Oppenheim Asset Management Services S.à Thomas Albert 2, Boulevard Konrad Adenauer 1115 Luxembourg

Thomas Albert, Oppenheim Asset Management Services S.à
Phone Fax Mobile E-Mail
+352 (0) 221 522-450 +352 (0) 221 522-9450 +352 (0) 621 290894 thomas.albert@oppenheim.lu

Finance in Motion GmbH Gemma Ferst Carl-von-Noorden-Platz 5 60596 Frankfurt am Main Germany

Gemma Ferst, Finance in Motion GmbH
Phone Fax E-Mail
+49 (0) 69 271 035 - 262 +49 (0) 69 271 035 - 110 ta@finance-in-motion.com

Finance in Motion GmbH Mejra Juzbăsić Kralja Tvrtka 12/2 71000 Sarajevo Bosnia and Herzegovina

Mejra Juzbăsić, Finance in Motion GmbH
Phone Fax E-Mail
+387 (0) 33 56 11 - 90 +387 (0) 33 56 11 - 91 bosnia_and_herzegovina@finance-in-motion.com

Finance in Motion GmbH Oxana Binzaru 67, Hanrapetutyan street 0010 Yerevan Armenia

Oxana Binzaru, Finance in Motion GmbH
Phone E-Mail

Finance in Motion GmbH Oxana Binzaru 25, M. Bănulescu Bodoni str., 3rd floor, room 31 MD - 2012 Chișinău Republic of Moldova

Oxana Binzaru, Finance in Motion GmbH
Phone Fax E-Mail
+373 (0) 22 54 46 26 +373 (0) 22 54 46 26 romania@finance-in-motion.com

Finance in Motion GmbH Dragan Spirovski Maksim Gorki 20/3 1000 Skopje FYR Macedonia

Dragan Spirovski, Finance in Motion GmbH
Phone Fax E-Mail
+389 (0) 2 31 32 - 628 +389 (0) 2 31 32 - 627 bulgaria@finance-in-motion.com

Finance in Motion GmbH Iveta Tancheva-Nikolova 24 Rustaveli Avenue, III Floor 0108 Tbilisi Georgia

Iveta Tancheva-Nikolova, Finance in Motion GmbH
Phone Fax E-Mail
+995 (0) 322 611 - 158 +995 (0) 322 611 - 158 georgia@finance-in-motion.com

Finance in Motion GmbH Mejra Juzbăsić Qamil Hoxha 7 1/6 10000 Prishtina Kosovo

Mejra Juzbăsić, Finance in Motion GmbH
Phone Fax E-Mail
+381 (0) 38 749 050 +381 (0) 38 749 053 kosovo@finance-in-motion.com

Finance in Motion GmbH Oxana Binzaru 25, M. Bănulescu Bodoni str., 3rd floor, room 31 MD - 2012 Chișinău Republic of Moldova

Oxana Binzaru, Finance in Motion GmbH
Phone Fax E-Mail
+373 (0) 22 54 46 - 26 +373 (0) 22 54 46 - 26 moldova@finance-in-motion.com

Finance in Motion GmbH Vladan Curic Bulevar Svetog Petra Cetinjskog 114 81000 Podgorica Montenegro

Vladan Curic, Finance in Motion GmbH
Phone Fax E-Mail
+382 (0) 20 22 83 - 41 +382 (0) 20 22 83 - 40 montenegro@finance-in-motion.com

Finance in Motion GmbH Vladan Curic Airport City, Omladinskih brigada 90v, building 1700, 8th floor 11070 Belgrade Serbia

Vladan Curic, Finance in Motion GmbH
Phone Fax E-Mail
+381 (0) 11 22 89 - 058 +381 (0) 11 22 89 - 026 serbia@finance-in-motion.com

Finance in Motion GmbH Burcu Karpuz Buyukdere Caddesi No: 237; Noramin Is Merkezi A103 34398 Maslak, Sariyer, Istanbul Turkey

Burcu Karpuz, Finance in Motion GmbH
Phone Fax E-Mail
+90 212 286 01 23 +90 212 286 01 22 turkey@finance-in-motion.com

Finance in Motion GmbH Oxana Binzaru Shovkovychna Str. 10, office 4 01021 Kyiv Ukraine

Oxana Binzaru, Finance in Motion GmbH
Phone E-Mail
+380 44 290 70 88 ukraine@finance-in-motion.com

Finance in Motion GmbH Iveta Tancheva-Nikolova Carl-von-Noorden-Platz 5 60596 Frankfurt am Main Germany

Iveta Tancheva-Nikolova, Finance in Motion GmbH
Phone Fax E-Mail
+49 (0) 69 271 035 - 919 +49 (0) 69 271 035 - 110 azerbaijan@finance-in-motion.com

Finance in Motion GmbH Dragan Spirovski Maksim Gorki 20/3 1000 Skopje FYR Macedonia

Dragan Spirovski, Finance in Motion GmbH
Phone Fax E-Mail
+389 (0) 2 31 32 628 +389 (0) 2 31 32 627 croatia@finance-in-motion.com

Finance in Motion GmbH Oxana Binzaru 25, M. Bănulescu Bodoni str., 3rd floor, room 31 MD - 2012 Chișinău Republic of Moldova

Oxana Binzaru, Finance in Motion GmbH
Phone Fax E-Mail
+373 (0) 22 54 46 - 26 +373 (0) 22 54 46 - 26 belarus@finance-in-motion.com

Finance in Motion GmbH Dragan Spirovski Maksim Gorki 20/3 1000 Skopje FYR Macedonia

Dragan Spirovski, Finance in Motion GmbH
Phone Fax E-Mail
+389 (0) 2 31 32 - 628 +389 (0) 2 31 32 - 627 FYR_macedonia@finance-in-motion.com

Finance in Motion GmbH Mejra Juzbăsić Kralja Tvrtka 12/2 71000 Sarajevo Bosnia and Herzegovina

Mejra Juzbăsić, Finance in Motion GmbH
Phone Fax E-Mail
+387 (0) 33 56 11 - 90 +387 (0) 33 56 11 - 91 albania@finance-in-motion.com

Finance in Motion GmbH Sylvia Wisniwski Carl-von-Noorden-Platz 5 60596 Frankfurt am Main Germany

Sylvia Wisniwski, Finance in Motion GmbH
Phone Fax E-Mail
+49 (0) 69 271 035 - 0 +49 (0) 69 271 035 - 110 press@efse.lu

Finance in Motion GmbH Marianne Sulzer Carl-von-Noorden-Platz 5 60596 Frankfurt am Main Germany

Marianne Sulzer, Finance in Motion GmbH
Phone Fax E-Mail
+49 (0) 69 271 035 - 329 +49 (0) 69 271 035 - 110 ta@finance-in-motion.com

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

Finance in Motion GmbH Maja Gizdic Carl-von-Noorden-Platz 5 60596 Frankfurt am Main Germany

Maja Gizdic, Finance in Motion GmbH
Phone Fax E-Mail
+49 (0) 69 271 035 - 0 +49 (0) 69 271 035 - 110 m.gizdic@finance-in-motion.com

Finance in Motion GmbH, Luxembourg Branch 43, Rue Sainte Zithe 2763 Luxembourg

Phone E-Mail
+352 (0) 28 99 59 59 investors@efse.lu
Contact us