EFSE is an impact investment fund established in 2005 based on a public-private partnership structure. It aims to foster economic development in the Southeast European and in the European Eastern Neighbourghood region through the provision of finance to micro and small enterprises (MSEs) and private households, via qualified financial institutions. EFSE was initiated by KfW Development Bank with the financial support of the German Federal Ministry for Economic Cooperation and Development (BMZ) and the European Commission. Finance in Motion Gmbh Germany serves as EFSE’s advisor.
The impact study focuses on microentrepreneurs in Bosnia Herzegovina and Kosovo. The participants were 627 microentrepreneurs clients of 8 microfinance institutions (MFIs) that receive EFSE financing.
