MICROCAPITAL BRIEF: European Fund for Southeast Europe (EFSE) Invests $11.3m in Mikrofin of Bosnia and Herzegovina

The European Fund for Southeast Europe (EFSE), a microfinance investment fund based in Luxembourg, recently invested USD 11.3 million in Mikrofin, a for-profit microfinance institution (MFI) based in Bosnia and Herzegovina.

As of 2009, Mikrofin had 51,146 active borrowers and USD 174.6 million in total assets. It had a reported return on assets (ROA) of 0.21 percent and return on equity (ROE) of 0.97 percent.

EFSE has invested over EUR 720 million (USD 965 million) in Southeast Europe, facilitating more than 200,000 loans.

Information on this deal was submitted directly to MicroCapital by Finance in Motion, the sole fund advisor to EFSE.

By Stefanie Rubin, Research Associate

About the European Fund for Southeast Europe (EFSE):

The European Fund for Southeast Europe (EFSE) aims to foster economic development in the southeastern Europe region by providing financial services to micro- and small enterprises and to private low-income households via qualified local financial institutions. EFSE was set up in 2005 with KfW, a German development bank, as the fund initiator and Oppenheim Asset Management S. à r. l. as the fund manager. Its sole fund adviser is Finance in Motion. Since its founding, EFSE has invested over EUR 720 million, the equivalent of over USD 965 million, in Southeast Europe, facilitating more than 200,000 loans. As of December 31, 2009, EFSE had an outstanding investment portfolio of EUR 578 million, the equivalent of over USD 775 million.

Additional Resources:

Source Article: Information on this deal was submitted directly to MicroCapital by Finance in Motion, the sole fund advisor to EFSE.

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