Patria Credit, a non-banking financial institution in Romania, recently borrowed RON 12 million (USD 2.7 million) from the European Fund for Southeast Europe (EFSE), a Luxembourg-based microfinance investment vehicle. Christoph Tiskens, the Board Chair of EFSE, said of
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MICROCAPITAL BRIEF: EFSE Launches “Power of Local Currency” Campaign in Eastern Europe with Investments in TBC Bank, BasisBank of Georgia; Belarusky Narodny Bank of Belarus; Araratbank of Armenia
The European Fund for Southeast Europe (EFSE), a microfinance investment vehicle domiciled in Luxembourg, recently launched a campaign promoting local-currency funding in Eastern Europe, with the financial support of the EU’s “EU4Business” initiative. Among the first borrowers under this “Power of Local Currency” campaign was
MICROCAPITAL BRIEF: EFSE Loans $33m to Erste Bank Montenegro for Housing Microfinance
The European Fund for Southeast Europe (EFSE), a microfinance investment vehicle domiciled in Luxembourg, recently announced it has lent EUR 30 million (USD 33 million) to Erste Bank Montenegro, a commercial banking member of the Austria-based Erste Group, to expand housing finance in Montenegro. Erste Bank Montenegro CEO Aleksa Lukic commented
MICROCAPITAL BRIEF: European Fund for Southeast Europe (EFSE) Loans $2.6m in Local Currency to VisionFund Microfinance Institution SEF International to Support Rural MSEs in Armenia
The European Fund for Southeast Europe (EFSE), a microfinance investment vehicle domiciled in Luxembourg, recently announced that it has lent local currency approximately equivalent to USD 2.58 million to SEF International, a microfinance institution (MFI) in Armenia, to finance micro- and small enterprises (MSEs) in rural areas. Commenting on the transaction, SEF CEO Garegin Gevorgyan said
MICROCAPITAL BRIEF: EFSE Lends $10m to OTP Leasing for Rural MSEs in Ukraine
The European Fund for Southeast Europe (EFSE), a Luxembourg-domiciled microfinance investment vehicle, recently issued a loan of USD 10 million to OTP Leasing, which is a unit of OTP Bank JSC, a Ukraine-based member of the Hungary-based OTP Group. The loan is intended to
MICROCAPITAL BRIEF: Societe Generale’s MobiasBanca, European Fund for Southeast Europe (EFSE) Partner on “My First Card” Financial Education in Moldova
MobiasBanca, the Moldovan subsidiary of France-based Groupe Societe Generale, has been funded by the development facility of the Luxembourg-domiciled European Fund for Southeast Europe (EFSE) to support financial education for youth in Moldova. Through the “My First Card” campaign, youth have been trained to
MICROCAPITAL BRIEF: ACBA-Credit Agricole Bank Borrows $10m in Local Currency from European Fund for Southeast Europe (EFSE) to Finance Micro-, Small Enterprises (MSEs) in Armenia
Agricultural Cooperative Bank of Armenia (ACBA)-Credit Agricole Bank, the Armenian subsidiary of France-based Groupe Credit Agricole, recently borrowed local currency equivalent to USD 10 million from the European Fund for Southeast Europe (EFSE), a Luxembourg-domiciled
MICROCAPITAL BRIEF: EFSE Invests $9m in Kredobank Bond Issue for Small, Medium-sized Enterprise (SME) Lending in Ukraine
The European Fund for Southeast Europe (EFSE), a Luxembourg-domiciled microfinance investment vehicle, recently invested UAH 312 million (USD 11 million) in Public Joint Stock Company (PJSC) Kredobank, a Ukrainian bank owned by the Polish financial services firm, Powszechna Kasa Oszczednosci (PKO) Bank Polski Spolka Akcyjna.
MICROCAPITAL BRIEF: EFSE Lends $24m to BT Leasing for Micro-, Small Enterprises (MSEs) in Romania
The European Fund for Southeast Europe (EFSE), a Luxembourg-domiciled microfinance investment vehicle, recently lent EUR 20 million (USD 24 million) to BT Leasing, a member of Romania’s Grupul Financiar Banca Transilvania (BT). BT Leasing CEO Ionut Morar explained, “We are glad to receive this funding that allows us to support Romanian entrepreneurs, especially
MICROCAPITAL BRIEF: EFSE Loans $18m to Garanti Leasing of Romania to Finance MSMEs
The European Fund for Southeast Europe (EFSE), a Luxembourg-domiciled fund that promotes economic development primarily through financing micro- and small enterprises, recently extended a senior loan of
MICROCAPITAL BRIEF: Targeting Rural MSEs, EFSE Lends Local-currency Equivalent of $6m to Opportunity Bank Serbia
The European Fund for Southeast Europe (EFSE), a Luxembourg-based microfinance investment vehicle, recently announced it will loan RSD 615 million (USD 6 million) to Opportunity Bank Serbia (OBS), a branch of US-based microfinance network Opportunity International, “to support small businesses, especially in rural areas.”
MICROCAPITAL BRIEF: EFSE Funding $2.3m in Microenterprise Loans in Bosnia and Herzegovina via Mi-Bospo, Half in Rural Areas
The European Fund for Southeast Europe (EFSE), a Luxembourg-based microfinance investment vehicle, recently announced it will loan EUR 2 million (USD 2.3 million) to Microcredit Foundation Mi-Bospo, a non profit microfinance institution in Bosnia and Herzegovina.
MICROCAPITAL BRIEF: EFSE Lending $25m to Turkey’s Yapi Kredi Leasing for Micro-, Small Enterprises (MSEs)
The European Fund for Southeast Europe (EFSE), a Luxembourg-based microfinance investment vehicle, recently indicated that it intends to lend USD 25 million to Turkey’s Yapi Kredi Leasing, “the largest subsidiary of Yapi Kredi Bank.”
MICROCAPITAL BRIEF: EFSE Extends Credit of $20m QNB Finansbank of Turkey for On-lending to Agricultural Small, Medium-sized Enterprises (SMEs)
The European Fund for Southeast Europe (EFSE), a microfinance investment vehicle led by German development bank Kreditanstalt für Wiederaufbau (KfW), recently announced that it has provided an additional senior loan to QNB Finansbank, a Turkey-based commercial bank, in the amount of USD 20 million. QNB plans to use the funds to expand its agricultural lending in rural Turkey. In support of the transaction, EFSE is offering QNB
MICROFINANCE EVENT: Impact Investing Conference: Addressing Climate Change and Social Development; April 26, 2017; Kirchberg, Luxembourg
Event Name: Impact Investing Conference
Event Date: April 26, 2017
Event Location: Luxembourg Chamber of Commerce, Kirchberg, Luxembourg
Event Organizers: Association of the Luxembourg Fund Industry (ALFI) will organize the event in partnership with Luxembourg Finance Labelling Agency (LuxFLAG), European Microfinance Platform (e-MFP) and Global Impact Investing Network (GIIN).
Cost: The fee to attend is EUR 400 (USD 427) with a discount of EUR 50 (USD 53) available for members of ALFI, LuxFLAG, e-MFP and GIIN. Additional discounts of EUR 100 (USD 107) and EUR 50 (USD 53) are offered to those registering by March 17 and April 13, respectively.
Summary: This conference will focus on issues including how impact investing supports climate change mitigation and adaptation measures, the role impact investing is playing in achieving the United Nations Sustainable Development Goals, and the growth of impact investing in general.
MICROCAPITAL BRIEF: Garanti Leasing Borrowing $26m from EFSE to Finance Micro-, Small Enterprises in Turkey
The European Fund for Southeast Europe (EFSE), a microfinance investment vehicle domiciled in Luxembourg, recently announced it is lending EUR 25 million (USD 26.5 million) to Garanti Leasing, a subsidiary of Turkey-based Garanti Bank, to facilitate increased support for micro- and small enterprises in Turkey. Garanti Leasing plans to utilize half
MICROCAPITAL BRIEF: EFSE Lends $2m to VisionFund’s SEF International for Micro-, Small Enterprises in Armenia
The European Fund for Southeast Europe (EFSE), a Luxembourg-based microfinance investment vehicle, recently announced that it has loaned AMD 970 million (USD 2 million) to Armenia’s SEF International to support the microfinance institution’s (MFI’s) lending to micro- and small businesses. SEF, which offers
MICROCAPITAL BRIEF: EFSE Loans $16m to Halkbank for Housing, Microenterprise, Small-business Lending in Macedonia
The European Fund for Southeast Europe, a microfinance investment vehicle that was launched by Germany’s KfW Development Bank, announced today that it has issued senior loans totaling EUR 15 million (USD 16 million) to Halkbank AD Skopje, which describes itself as Macedonia’s “first downscaling bank,