SARAJEVO (Bosnia and Herzegovina), May 15 (SeeNews) –The European Fund for Southeast Europe (EFSE) said on Tuesday it is providing a loan of 2 million euro ($2.4 million) to MI-BOSPO, its longstanding strategic microfinance partner in Bosnia and Herzegovina.
MI-BOSPO has been successfully on-lending EFSE funding to micro and small enterprises for over a decade. The newest facility aims to provide access to finance for microenterprises in rural areas and to foster their development, EFSE said in a statement.
"MI-BOSPO is one of the key partners for EFSE in the Bosnian microfinance sector. Its responsible finance practices, strong commitment to our target group, good reputation on the market, and committed management make us very pleased to continue this successful collaboration", EFSE board chairman, Christoph Tiskens, said.
The European Fund for Southeast Europe (EFSE) was initiated by German development bank KfW with the financial support of the German Federal Ministry for Economic Cooperation and Development (BMZ) and the European Commission. It aims to foster economic development and prosperity in Albania, Armenia, Azerbaijan, Belarus, Bosnia and Herzegovina, Bulgaria, Croatia, Macedonia, Kosovo, Georgia, Moldova, Montenegro, Romania, Serbia, Ukraine and Turkey.
($=0.840043 euro)