EU4Business - The EU Local Currency Partnership Initiative: the European Fund for Southeast Europe (EFSE)

EU4Business - Инициатива ЕС по местной валюте: Европейский фонд Юго-Восточной Европы (EFSE)

Project duration

2018-2039

Budget

€50.32 million

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Project Website

EU4Business - Инициатива ЕС по местной валюте: Европейский фонд Юго-Восточной Европы (EFSE)
EU4Business - Инициатива ЕС по местной валюте: Европейский фонд Юго-Восточной…

Brief Description

The Fund aims to foster economic development and prosperity through the sustainable provision of additional development finance, notably to micro and small enterprises (MSEs) and to private households, via qualified local financial institutions

Objectives

The main goal of the action is to make it possible for EFSE to provide access to medium term credit in local currency for underserved MSMEs and low-income households without exposing them to foreign currency risk. 

In addition, the action also has the following specific objectives: 

1) improving access to finance and job stability/creation; 

2) leveraging public and private capital (catalytic effect);

3) strengthening inclusion of the local financial market.

 

Actions in brief

Provision of local currency loans to MSMEs and low-income households.

The Fund is projected to support an additional 74,000 MSMEs or private households with financing to reach a total accumulated number since inception of the Fund in the Eastern Partnership countries of around 250,000 beneficiaries by 2037. The Fund expects to disburse an additional total volume of €1 billion of sub-loans to MSMEs or private households in the Eastern Partnership regions.

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