€1.5BAssets under management
of which €100Mfor Ukraine Sub-Fund
Message from our Board and Portfolio Manager
In a year of challenges, EFSE’s results highlight the enduring relevance of our mission and the strength of our model.
We focused on laying the foundation for inclusive recovery in Ukraine, rural sustainability and resilience, and women’s economic empowerment. These are the foundations of long-term stability in the region.
As we look to the future, we remain committed to shaping a more inclusive, resilient and opportunity-rich economy – together with our investors.
Key Investment Figures
As of Dec 31, 2024
of which €100Mfor Ukraine Sub-Fund
In a year marked by challenges and new beginnings, we achieved solid portfolio growth, expanded our sustainable agriculture initiatives, and launched the Ukraine Sub-Fund to support recovery and resilience.
Andrea Hagmann, Board Member, Chairperson in 2024
Key Impact Figures
Cumulative figures since fund's inception, as of December 2024
* Figures are modelled by the fund based on primary reporting and third-party data
Supporting SDG8Decent Work and Economic Growth
Supporting SDG8Decent Work and Economic Growth
Supporting SDG5Gender Equality
Supporting SDG8Decent Work and Economic Growth
It takes a specialist to invest in these markets
We live and work where our assets are based.
With over 20 years of experience, we know how to navigate shifting market dynamics.
Through our financing and Advisory & Capacity Building work, we continued to act as a stabilizing, countercyclical force for MSMEs and local financial institutions, allowing them to drive solid growth and build economic resilience.
Jasminka Begert, EFSE Portfolio Manager
Advisory and Capacity Building highlights
Our Advisory & Capacity Building teams had a busy year implementing targeted projects to help local businesses - including those led by vulnerable groups - in EFSE's regions grow, adapt, and transform their operations in forward-thinking and sustainable ways.
We launched 11 new ESG initiatives to help our financial institution partners integrate ESG into their business strategies and corporate governance frameworks. This will help our partners better understand and analyze the ESG-risks in their portfolios and improve the advice they give to end investees on ESG topics.
We also completed our first gender finance study in the Western Balkans. This was an important step to better understanding the challenges faced by women entrepreneurs and the support they need from financial institutions to succeed. We're helping multiple institutions use these findings to develop their own gender policies, data systems and support programs for women-owned/led MSMEs.
MSMEs
Designed and launched a Financing-Linked Grant Program in support of EFSE’s Ukraine Sub-Fund (USF).
Sustainable Agri
Led the Fund’s sustainable agri product launch in 4 countries, trained 230 farmers, and built partner capacity in sustainable agri lending in 2024.
ESG
Launched 11 new ESG initiatives to help partner financial institutions integrate ESG into their business strategy and corporate governance.
Women entrepreneurs
EFSE completed its first study on women entrepreneurs' access to finance and hosted a Gender Finance Conference in Sarajevo to spark dialogue across the financial sector.
Supporting women in 2024
In 2024, EFSE launched its Gender Strategy, reflecting the Fund’s growing commitment to empowering women entrepreneurs as key drivers of economic development in Southeast Europe and the EU Eastern Neighbourhood Region. EFSE’s strategy focuses on strengthening internal gender equity practices among its investees, expanding access to finance and capacity building for women-owned/led businesses, and fostering an enabling ecosystem for their success.
How we manage impact
In respect of the United States of America, Canada, Japan or Australia or any other jurisdiction in which the distribution, offer, sale, transfer or resale would be prohibited by applicable law, no investment in notes/shares or other instruments of the Fund (or its sub-fund(s)) can be offered or made.