European Fund for Southeast Europe (EFSE)


Last updated 6 January 2022, by Impactyield.

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The European Fund for Southeast Europe provides sustainable funding to micro and small enterprises in Southeast Europe ensuring that micro and small enterprises and low-income private households have sustainable access to financial services.

Asset class

Fund style

Not listed

Financial description


18 years

of track record


the year funded



Asset manager

Finance in Motion


Headquarters location:

Other funds managed by this asset manager: ArbaroGreen for Growth Fund (GGF)eco business Fund

SDG goals

SDG targets

Equal rights to ownership basic services technology and economic resources

Safe and affordable housing

Promote policies to support job creation and growing enterprises

Increase access to financial services and markets

Key performance indicators

Fund overview

Asset manager: Finance in Motion

Product track record: Fund has 18 years of track record

Target IRR: n.a.

Committed Capital: n.a.

Target return category: Risk-adjusted market-rate of return

Fund domicile:

Product status:


Inception year: 2005

Vintage year: 2006

Target region: , ,

Target close date: n.a.

Product term: n.a.

Assets under management: n.a.

Investment size: Min: 0; Max: 0; Avg: 5,885,808

Co-investment policy:

Currency of investments:

Currency for fund / product figures:

Fund investments to date: 476

Fund investments to date exited or repaid: 450

Management fee: n.a.

Carried interest: n.a.

Hurdle rate: n.a.

GIIN Investors' Council Investment: Yes

Limited Partners / Investors: Public investors - European Commission - German Federal Ministry for Economic Cooperation and Development (BMZ) - Swiss Agency for Development and Cooperation (SDC) - Austrian Development Agency (ADA) - Danish International Development Agency (DANIDA) - Government of the Republic of Albania - Small and Medium Business Credit Support CJSC (subsidiary of the Central Bank of Armenia) International financial institutions - International Finance Corporation (IFC) - European Bank for Reconstruction and Development (EBRD) - KfW - Netherlands Development Finance Company (FMO) - Oesterreichische Entwicklungsbank (OeEB) - European Investment Bank (EIB) Private investors - Credit Cooperatif - Steyler Ethik Bank - Finance in Motion - GLS Bank - Stichting Democratie & Media - Raiffeisen Bank International

Limited Partner / Investor Type: Development Finance Institution (DFI), Other Institutional Investors


E-mail: n.a.


Phone number: +49 69 271 035 0

If you wish to have your details removed from this database please email

Elvira Lefting

Managing Director

Sylvia Wisniwski

Managing Director

Impact Performance


Impact thesis

Having served almost 700,000 subborrowers with a total amount of EUR 4.8 billion, securing and creating almost 500,000 new jobs, the European Fund for Southeast Europe has shown remarkable social impact.

Impact Management


Financial benchmark

Term Description:


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