EFSE and NLB Banka d.d. Sarajevo renew partnership to enhance access to housing finance

The European Fund for Southeast Europe (EFSE) and NLB Banka d.d., Sarajevo, are reaffirming their partnership to improve access to housing finance for private households in Bosnia and Herzegovina through a EUR 5 million senior loan, which the Fund is providing to the Bank.
NLB Banka is one of the few banks in the country to offer fixed interest rate housing loans, which are increasingly in demand. A long-term housing loan product with a tenor of up to 10 years will enable lower income households in particular as well as the younger population to invest into affordable housing.
"Since 2008, NLB Banka in Sarajevo has proved a very successful EFSE partner lending institution in providing finance to micro and small medium enterprises. We are pleased to expand this partnership to providing finance for affordable housing for low-income households,” says Monika Beck, Chairperson of the Board of EFSE.
"We have successfully cooperated with the EFSE for years in providing the best credit lines to micro, small and medium enterprises. The EFSE’s latest loan underscores the strength of our cooperation as well as the fact that we share the same goals in supporting the BiH economy. We are proud to now be in a position to offer housing loans with fixed interest rates that guarantee long-time stability in terms of repayments costs for households and young individuals,” adds Senad Redžić, director, NLB Banka d.d., Sarajevo.

About the European Fund for Southeast Europe

The European Fund for Southeast Europe (EFSE) was initiated by KfW Development Bank (KfW) with the financial support of the German Federal Ministry for Economic Cooperation and Development (BMZ) and the European Commission. It aims to foster economic development and prosperity in Albania, Armenia, Azerbaijan, Belarus, Bosnia and Herzegovina, Bulgaria, Croatia, former Yugoslav Republic of Macedonia, Kosovo, Georgia, Moldova, Montenegro, Romania, Serbia, Ukraine and Turkey. As access to finance is a key success factor in developing the micro, small and medium enterprise segments, the EFSE focuses on assisting local financial sectors in strengthening their ability to ensure adequate and sustainable financing. The funding the EFSE provides as long-term finance primarily for micro and small enterprises (MSEs) – but also for private households in the form of home improvement loans – is channelled to these loan customers through local partner lending institutions. Supporting the EFSE’s investment activities is the EFSE Development Facility, which provides partner lending institutions with technical assistance, consulting and training services to build operational capacities and professional management.
Initiated by KfW Development Bank (KfW) on 15 December 2005 from four multi-donor programs under its management, the EFSE is the first public-private partnership of its kind and the first privately managed fund in development finance to leverage private funding for MSE finance in the target region. Capital is provided by donor agencies, international financial institutions and private institutional investors, including the German Federal Ministry for Economic Cooperation and Development (BMZ), the European Commission (EC), the Government of Albania, Small and Medium Business Credit Support CJSC (SMBCS), a subsidiary of the Central Bank of Armenia, the Development Bank of Austria (Oesterreichische Entwicklungsbank - OeEB), the Swiss Agency for Development and Cooperation (SDC), the Danish International Development Agency (Danida), KfW as Lead Investor, the International Finance Corporation (IFC), the Netherlands Finance Company (FMO), the European Bank for Reconstruction and Development (EBRD), the European Investment Bank (EIB), Sal. Oppenheim and Deutsche Bank.
Oppenheim Asset Management Services S.à r.l., Luxembourg, and Finance in Motion GmbH, Germany, are, respectively, the EFSE’s Fund Manager and Fund Advisor.
For more information about the European Fund for Southeast Europe, please visit:
About NLB Banka d.d., Sarajevo
NLB Bank d.d., Sarajevo, is a stable banking partner offering numerous combinations of financial services to private individuals and businesses. The Bank is proud to be able to support its clients in a variety of circumstances with individualised financial packages to build long-term partnerships based on trust, high-quality service, strong business expansion, intelligent cost efficiency and risk management. NLB Banka d.d., Sarajevo, is part of the NLB Group consisting of 45 members operating in 12 markets throughout the region.
For more information about NLB Banka d.d., Sarajevo, please visit:

Media contact EFSE
Merle Römer
Manager Communications and Events
Tel: +49 (0)69 271 035-171

Media contact NLB Banka d.d., Sarajevo
Valentina Kovacic
Head of Marketing and Service Quality
Tel: +387 33 720 613

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