The European Fund for Southeast Europe (EFSE), a Luxembourg-based microfinance investment vehicle (MIV), recently issued a USD 20 million senior loan to AccessBank, an organization founded in 2002 to provide credit and other financial services to smaller businesses and low-income families in Azerbaijan.
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MICROCAPITAL BRIEF: European Fund for Southeast Europe Loans $23m to Burgan Bank of Turkey for Rural MSMEs
The European Fund for Southeast Europe (EFSE), a Luxembourg-based investor in the development of local financial sectors in Southeast Europe and parts of Central Asia, recently informed MicroCapital that it has loaned EUR 20 million (USD 23 million) to Burgan Bank Turkey, a retail bank that is part of Kuwait’s Burgan Bank Group. The funds are to be on-lent on a “long-term” basis to micro-, small and medium-sized enterprises in rural areas of the country.
MICROCAPITAL BRIEF: European Fund for Southeast Europe Loans $23m to AccessBank of Azerbaijan for Rural MSMEs
The European Fund for Southeast Europe (EFSE), a Luxembourg-based investor in the development of local financial sectors in Southeast Europe and parts of Central Asia, recently informed MicroCapital that it has loaned EUR 20 million (USD 23 million) to AccessBank, an organization founded in 2002 to provide credit and other financial services to Azerbaijan’s smaller businesses and low-income families. The funds are to be on-lent to micro-, small and medium-sized enterprises in rural areas of the country.
MICROCAPITAL BRIEF: German Federal Ministry for Economic Cooperation and Development (BMZ) to Invest $17m in Equity in European Fund for Southeast Europe (EFSE) to Support MSME Financing in Ukraine
The German government’s Bundesministerium für wirtschaftliche Zusammenarbeit und Entwicklung (BMZ) has agreed to invest equity in the amount of EUR 15 million (USD 17 million) in the European Fund for Southeast Europe (EFSE), a Luxembourg-based microfinance investment vehicle (MIV). This new investment, which is in the highest risk “first-loss” tranche of EFSE, raises BMZ’s total commitment to the fund to approximately EUR 175 million (USD 200 million). The infusion will be used to provide local-currency financing to micro-, small and medium-sized enterprises (MSMEs) in Ukraine.
MICROCAPITAL BRIEF: European Fund for Southeast Europe (EFSE) Loans $11.6m to UniCredit Bank Serbia for Housing Purchases, Improvements
The European Fund for Southeast Europe (EFSE), a Luxembourg-based microfinance investment vehicle (MIV), recently announced that it is loaning EUR 10 million (USD 11.6 million) to UniCredit Bank Serbia, a subsidiary of Italy-based financial services company UniCredit Group, for on-lending for housing purchases and home improvement projects.
MICROCAPITAL BRIEF: Absolute Portfolio Management’s Vision Microfinance Funds Invest $8.5m in Microfinance Institutions in Cambodia, Costa Rica, Ecuador, Peru
Absolute Portfolio Management (APM), an arm of Austria-based asset management group C-Quadrat, recently informed MicroCapital that it disbursed credits totaling the approximate equivalent of USD 8.5 million from its two Vision Microfinance funds, the Dual Return Fund-Vision Microfinance and the Dual Return Fund-Vision Microfinance Local Currency, to unspecified microfinance institutions (MFIs) in Cambodia, Costa Rica, Ecuador and Peru.
MICROCAPITAL BRIEF: European Fund for Southeast Europe (EFSE) Loans $8.3m in Local Currency to Patria Credit of Romania
The European Fund for Southeast Europe (EFSE), a Luxembourg-based microfinance investment vehicle (MIV), recently announced that it will disburse a senior loan equivalent to EUR 7 million (USD 8.3 million) but denominated in Romanian leu to Patria Credit IFN SA (Non-banking Financial Institution Corporation), a microfinance institution (MFI) in Romania.
MICROCAPITAL BRIEF: European Fund for Southeast Europe (EFSE) Loans $8.3 to Agricover Credit of Romania for Agricultural Micro-, Small Businesses
The European Fund for Southeast Europe (EFSE), a Luxembourg-based microfinance investment vehicle (MIV), recently announced that it will disburse a senior loan of EUR 7 million (USD 8.3 million) to Agricover Credit IFN SA (Non-banking Financial Institution Corporation), a lender to farmers in Romania.
MICROCAPITAL BRIEF: European Fund for Southeast Europe (EFSE) Loans $600k to Macedonian Microfinance Institution (MFI) Horizonti to On-Lend to Small-Scale Farmers, Rural Microentrepreneurs
The European Fund for Southeast Europe (EFSE), a Luxembourg-based microfinance investment vehicle (MIV), recently announced it will offer a senior loan of EUR 500,000 (USD 600,100) to the Foundation for Economic Development “Horizonti”, Skopje (Horizonti), a Macedonian microfinance institution (MFI).
MICROCAPITAL BRIEF: European Fund for Southeast Europe (EFSE) Loans $30m to Finansbank of Turkey to Support Micro-, Small, Medium-sized Enterprises (MSMEs)
The European Fund for Southeast Europe (EFSE), a Luxembourg-based microfinance investment vehicle (MIV), recently announced that it will disburse a senior loan of EUR 25 million (USD 30 million) to Finansbank, a commercial bank in Turkey that is a subsidiary of the National Bank of Greece Group, a Greek financial conglomerate.
MICROCAPITAL BRIEF: European Fund for Southeast Europe (EFSE), Green for Growth Fund (GGF) Loan $24.2m to Macedonia-based Halkbank AD Skopje to Support Energy Efficiency; Housing; Micro-, Small Enterprises (MSEs)
The European Fund for Southeast Europe (EFSE), a Luxembourg-based microfinance investment vehicle (MIV), and Green for Growth Fund, Southeast Europe (GGF), a Germany-based fund that invests in energy efficiency and renewable energy sources, recently granted loans of EUR 10 million (USD 12.1 million) each to Halkbank AD Skopje, a Macedonia-based bank, for expanding the bank’s work with micro- and small enterprises (MSEs) as well as to support energy efficiency and the housing market.
MICROCAPITAL BRIEF: European Fund for Southeast Europe (EFSE) Loans $4.2m to Agricultural Cooperative Bank of Armenia (ACBA) Leasing for On-lending to Micro-, Small Enterprises
The European Fund for Southeast Europe (EFSE), a Luxembourg-based microfinance investment vehicle (MIV), recently announced that it is disbursing a senior loan of EUR 3.4 million (USD 4.17 million) to Agricultural Cooperative Bank of Armenia (ACBA) Leasing, a subsidiary of ACBA, for on-lending to micro- and small enterprises (MSEs).
MICROCAPITAL BRIEF: European Fund for Southeast Europe (EFSE) Loans $6.2m to Alter Modus for Disbursal as Micro-, Small Loans in Montenegro
The European Fund for Southeast Europe (EFSE), a Luxembourg-based microfinance investment vehicle (MIV), recently issued a senior loan of EUR 5 million (USD 6.2 million) to Alter Modus, a Montenegro-based microfinance institution (MFI), for lending to micro- and small enterprises (MSEs) within Montenegro.
MICROCAPITAL BRIEF: Absolute Portfolio Management’s Vision Microfinance Funds Invest $11m in Microfinance Institutions in Cambodia, Costa Rica, Ecuador, Kyrgyzstan, Mexico, India
Absolute Portfolio Management (APM), an arm of Austria-based asset management group C-Quadrat, recently informed MicroCapital that it disbursed credits totaling approximately USD 11 million from its two Vision Microfinance funds, the Dual Return Fund-Vision Microfinance and the Dual Return Fund-Vision Microfinance Local Currency, to unspecified microfinance institutions (MFIs) in Cambodia, Costa Rica, Ecuador, Kyrgyzstan, Mexico and India.
MICROCAPITAL BRIEF: European Fund for Southeast Europe (EFSE) Loans $5m to Muganbank of Azerbaijan for On-lending to Rural Micro-, Small, Medium-sized Enterprises (MSMEs)
The European Fund for Southeast Europe (EFSE), a Luxembourg-based microfinance investment vehicle (MIV), recently announced that it has established a partnership with Muganbank Open Joint Stock Company (OJSC) (Muganbank), a retail and corporate bank in Azerbaijan.
MICROCAPITAL BRIEF: European Fund for Southeast Europe (EFSE) Provides $12.5m to Fibabanka of Turkey to Support Small, Medium-Sized Enterprises (SMEs)
The European Fund for Southeast Europe (EFSE), a Luxembourg-based microfinance investment vehicle (MIV), will disburse a EUR 10 million (USD 12.5 million) senior loan to Fibabanka, a Turkish commercial bank, for lending to small and medium-sized enterprises (SMEs).
MICROCAPITAL BRIEF: Absolute Portfolio Management’s Vision Microfinance Funds Loan $1.5m to Microfinance Institution in Ecuador
Absolute Portfolio Management (APM), an arm of Austria-based asset management group C-Quadrat, recently informed MicroCapital that it has disbursed credits worth approximately USD 1.5 million to an unspecified microfinance institution (MFI) in Ecuador from its Vision Microfinance funds – the Dual Return Fund-Vision Microfinance and the Dual Return Fund-Vision Microfinance Local Currency [1].
MICROCAPITAL BRIEF: European Fund for Southeast Europe (EFSE) Loans $19m to Komercijalna banka Beograd of Serbia for Housing Purchases, Improvements
Serbia’s Komercijalna banka Beograd, a bank based in Serbia, recently borrowed EUR 15 million (USD 19.2 million) under a senior loan agreement from the European Fund for Southeast Europe (EFSE), a Luxembourg-based, government-backed microfinance investment vehicle.