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    Development Through Blended Finance


EFSE is structured as a public-private partnership. This blended finance model offers different capital tranches that provide multiple risk-return profiles.

Public investors and development finance institutions invest in junior and senior shares. Subordinated notes are purchased by development finance institutions and institutional private investors. These contributions provide a risk cushion for senior notes, the most protected investment instrument of the fund, which are exclusively offered to private investors.

Facts & Figures

As of Q1 2023


date of inception

EUR 9,827.2 million

cumulative volume of sub-loans


share of private capital of the fund


number of partner lending institutions


Learn more about EFSE's performance:



EFSE is an impact fund that aims to foster economic development and prosperity in Southeast Europe and the E.U. Eastern Neighbourhood Region by supporting micro, small and medium enterprises (MSMEs) and improving living conditions for households. At this final target group level, the positive impact goal of the fund is to support employment opportunities (as both self-employed and as an employee), supporting the generation of income and improving livelihoods.

In line with its sustainable investment objective, the Fund falls within the scope of Article 9 of the Regulation (EU) 2019/2088 on the Sustainable Finance Disclosure Regulation (SFDR).

For sustainability-related disclosures in line with the requirements of the SFDR and more details on the Fund's approach to impact and sustainability, please refer to:

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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