EIB mulls 39 mln euro in financing for European Fund for South East Europe

The proposed EIB finance, part of a project with total cost of approximately 851 million euro, would represent an investment in the senior A tranche of the EFSE, which provides financing to micro and small scale enterprises, rural and housing loans through qualified financial intermediaries, the EIB said on its website.

The EFSE aims to foster economic development and prosperity in Albania, Armenia, Azerbaijan, Belarus, Bosnia and Herzegovina, Bulgaria, Croatia, Macedonia, Georgia, Kosovo, Moldova, Montenegro, Romania, Serbia, Turkey and Ukraine. Initiated by German development bank KfW Entwicklungsbank in 2005, the EFSE is the first public-private partnership of its kind and the first privately managed fund in development finance.

($=0.7703 euro)