EFSE’s fifth-year anniversary
On 10 December the Advisory Group of the European Fund for Southeast Europe, composed of representatives of Central Banks of EFSE’s partner countries, met in Vienna, Austria, to celebrate the Fund’s fifth-year anniversary.
EFSE was incorporated on 15 December 2005 and since then has become the world’s largest development finance fund. It has shown a remarkable social impact.
Since its inception, the Fund has committed over EUR 922 million to more than 70 partner lending institutions, and facilitated more than EUR 1.3 billion in loans to 247,000 micro and small enterprises and low-income private households. EFSE funds have been instrumental in creating – and sustaining – approximately 215,000 jobs. The Fund’s achievements have recently been acknowledged at the G-20 Summit in Seoul where The President of the United States of America, Mr. Obama, recognised EFSE as the top-ranked most innovative micro and small enterprise finance solution out of a group of 14 winning proposals.
At a glance - Key figures
- 472,490 micro and small enterprise and housing loans totaling EUR 3.3 billion facilitated since inception
- EUR 1.5 billion of investments approved since inception
- EUR 962 million of total commitments from donor agencies, international financial institutions and private investors
- Public capital EUR 325 million (34%)
- Private capital EUR 636 million (66%)