ESPA VINIS Microfinance Fund is the newest private investor in the European Fund for Southeast Europe (EFSE), a EUR 715 million (USD 1 billion) investment fund that focuses on economic development. ESPA VINIS Microfinance will invest 10 percent of its volume with EFSE. The exact amount has not been disclosed. MicroCapital reported on the launch of the ESPA VINIS Microfinance Fund in December 2009 here.
Fifty-three percent of ESFE’s total committed funds (EUR 383.3 million or USD 551.6 million) come from private institutional shareholders, including Deutsche Bank, BN&P Good Growth Fund and the German bank Sal Oppenheim.
Public investors include the European Commission, the German Federal Ministry for Economic Cooperation and Development (BMZ), Swiss Agency for Development and Cooperation (SDC), Austrian Development Agency (ADA), the Danish International Development Agency (DANIDA) and the Government of the Republic of Albania.
Other public investors include international finance institutions such as the International Finance Corporation (IFC), European Bank for Reconstruction and Development (EBRD), Netherlands Development Finance Company (FMO), the European Investment Bank (EIB), the German development bank KfW and the Austrian development bank OeEB.
By: Stefanie Rubin, Research Assistant
About the European Fund for Southeast Europe (EFSE):
The European Fund for Southeast Europe (EFSE) was founded by KfW, the German development bank. It offers Southeast European financial service providers with long-term refinancing instruments for the issuance of credits to micro and small enterprises (MSEs) as well as to low-income private households. Since its inception in December 2005, it has facilitated approximately 200,000 loans to MSEs and private households, totaling over EUR 1 billion (USD 1.44 billion).
Additional Resources:
Source Article: ESFE Press Release: http://www.efse.lu/news-events/press-releases/archive/press-releases-2010-01-04.html
ESFE: http://www.efse.lu/
MICROCAPITAL BRIEF: Erste Bank Group of Austria Launches Microfinance Fund: https://www.microcapital.org/microcapital-brief-erste-bank-group-of-austria-launches-microfinance-fund/
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