Luxembourg, 28 September 2018 – Raiffeisen Bank International (RBI) has joined forces with the European Fund for Southeast Europe (EFSE) to invest in entrepreneurship in Southeast Europe and the European Eastern Neighbourhood Region. The purchase of EUR 20 million in fund senior notes will contribute to advancing EFSE’s mandate to provide responsible finance to micro and small enterprises (MSEs), a backbone of the region’s economy and key driver for growth and employment.
"We are very glad to welcome Raiffeisen Bank International to the family of EFSE investors,” said EFSE Board Chairman Christoph Tiskens. "EFSE focuses on strengthening local financial infrastructure and empowering entrepreneurs throughout our target region, and this new partnership will help us continue to deepen and multiply the fund’s positive impact.”
"RBI has always taken a strong interest in supporting the economic growth and development of Southeastern Europe,” said Lukasz Januszewski, RBI Board Member for Markets & Investment Banking. "Our commitment to the region and the strengthening of the SME segment continue to bear fruit and we are glad that we may also contribute through EFSE.”
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, EFSE focuses on assisting local financial sectors in strengthening their ability to ensure adequate and sustainable financing. The funding EFSE provides as long-term finance is channelled to loan customers – primarily micro and small enterprises (MSEs), but also private households for home improvement – through local partner lending institutions. Supporting 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, 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), and Deutsche Bank.
Hauck & Aufhäuser Fund Services S.A., Luxembourg, acts as EFSE’s Fund Manager and Finance in Motion GmbH, Germany, as Advisor.
For more information about the European Fund for Southeast Europe, please visit www.efse.lu
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About Raiffeisen Bank International
RBI regards Austria, where it is a leading corporate and investment bank, as well as Central and Eastern Europe (CEE) as its home market. 14 markets of the region are covered by subsidiary banks. Additionally, the RBI Group comprises numerous other financial service providers, for instance in leasing, asset management or M&A.
In total, around 50,000 employees service 16.7 million customers through more than 2,400 business outlets, the majority thereof in CEE. RBI's shares are listed on the Vienna Stock Exchange. The Austrian Regional Raiffeisen Banks own around 58.8 per cent of the shares, the remainder is in free float. Within the Austrian Raiffeisen Banking Group, RBI is the central institute of the Regional Raiffeisen Banks and other affiliated credit institutions.
Media contact EFSE
Senior Officer, Marketing & Communications
Phone: +49 (0)69 271 035-470
Media contact Raiffeisen Bank International
Phone: +43 1-71 707-6055
Phone: +43 1-71 707-1930
Get in touch
Interested in learning more about how the fund works, or seeking partnership opportunities? Contact an EFSE representative today.