MICROCAPITAL BRIEF: European Fund for Southeast Europe (EFSE) Loans $10m to ProCredit Bank of Georgia

European Fund for Southeast Europe (EFSE), a microfinance investment vehicle (MIV) investing in 16 countries in Europe and Asia, has reported to MicroCapital that it has loaned USD 10 million to ProCredit Bank of Georgia, a bank serving Georgian small and medium-sized enterprises (SMEs).

As of March 31, 2012, EFSE reported outstanding loans to partner lending institutions of EUR 772.8 million (USD 885 million) of which EUR 586.8 million (USD 726.2 million) has been on-lent by EFSE partners to 105,000 clients. Georgia’s ProCredit Bank reported to the US-based nonprofit Microfinance Information Exchange total assets of USD 582 million, gross loans of USD 409 million, total deposits of USD 307 million, 332,000 active clients and return on equity (ROE) of 23 percent as of December 31, 2011. ProCredit Bank of Georgia is a member of ProCredit Holding, which consists of 21 banks operating in emerging markets in Eastern Europe, Latin America and Africa.

By Jaime Fellers, Research Associate

About European Fund for Southeast Europe (EFSE):

Based in Luxembourg and founded in December 2005, European Fund for Southeast Europe (EFSE) reportedly operates in 16 countries in Europe and Central Asia: Albania, Bosnia and Herzegovina, Bulgaria, FYR Macedonia, Kosovo, Montenegro, Romania, Serbia, Croatia, Turkey, Armenia, Azerbaijan, Belarus, Georgia, Moldova and Ukraine. Funded through public and private donors, the fund aims to aid economic development directly through micro- and small enterprise (MSE) loans, agriculture loans and housing loans, and indirectly through the funding of microfinance institutions (MFIs). The fund is managed by Oppenheim Asset Management Services S.à r.l., Luxembourg. As of March 31, 2012, EFSE reported outstanding loans to partner lending institutions of EUR 772.8 million (USD 885 million) of which EUR 586.8 million (USD 726.2 million) has been on-lent by EFSE partners to 105,000 clients.

About ProCredit Bank, Georgia:

Founded in 1998, ProCredit Bank of Georgia offers banking services to small and medium-sized enterprises. ProCredit Bank reported to the US-based nonprofit Microfinance Information Exchange total assets of USD 582 million, gross loans of USD 409 million to 332,000 active clients and return on equity (ROE) 23 percent as of December 31, 2011. ProCredit Bank of Georgia is a member of ProCredit Holding, which consists of 21 banks operating in emerging markets in Eastern Europe, Latin America and Africa as of 2011.

Sources and Additional Resources:

[1] Correspondence between EFSE and MicroCapital

MicroCapital Universe Profile: European Fund for Southeast Europe (EFSE)

https://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=European+Fund+for+Southeast+Europe+%28EFSE%29

MicroCapital Universe Profile: ProCredit Bank of Georgia

https://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=ProCredit+Bank+Georgia

MicroCapital Universe Profile: ProCredit Holding

https://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=Procredit+Holding

MicroCapital.org story, January 10, 2012, “MICROCAPITAL BRIEF: European Fund for Southeast Europe Lends $24m to AccessBank of Azerbaijan, Kreditimi Rural I Kosoves of Kosovo, Byblos Bank Armenia, Alter Modus of Montenegro”, https://www.microcapital.org/microcapital-brief-european-fund-for-southeast-europe-lends-24m-to-accessbank-of-azerbaijan-kreditimi-rural-i-kosoves-of-kosovo-byblos-bank-armenia-alter-modus-of-montenegro/

MicroCapital.org story, November 16, 2011, “MICROCAPITAL BRIEF: European Fund for Southeast Europe Lends $20m to ProCredit Bank Georgia for Microfinance, SMEs https://www.microcapital.org/microcapital-brief-european-fund-for-southea…

Browse the MicroCapital Universe and add your entry to the wiki at https://www.microcapital.org/microfinanceuniverse/

Similar Posts: