Finance in Motion, a Frankfurt-based asset management firm focused on development finance, recently reported to MicroCapital that the European Fund for Southeast Europe (EFSE), a microfinance institution investment fund that it advises, made a debt investment of USD 5 million in Minsk Transit Bank, a joint stock company in Belarus [1]. Minsk Transit Bank does not report to the US-based data provider Microfinance Information Exchange (MIX). Established in 2005 in Luxembourg, the European Fund for Southeastern Europe aims to foster economic development in southeastern Europe and parts of Central Asia by supporting the provision of financial services to low-income households and micro- and small enterprises via local financial institutions.
By Jacqueline Foelster, Research Associate
About European Fund for Southeast Europe (EFSE): Established in 2005, the European Fund for Southeastern Europe aims to foster economic development in southeastern Europe and parts of Central Asia by supporting the provision of financial services to low-income households and micro- and small enterprises via local financial institutions. EFSE is privately managed, with Oppenheim Asset Management Services acting as its fund manager and Finance in Motion GmbH acting as fund advisor. As of December 31, 2009, EFSE has an outstanding investment portfolio of EUR 578 million (USD 775 million). LuxFLAG, an organization that certifies that microfinance investment vehicles actually invest in the microfinance sector, renewed EFSE’s label as of April 2010.
About Minsk Transit Bank: Founded in 1994, Minsk Transit Bank is a commercial bank that offers financial services for individual and corporate customers in the Belarus Republic. It registers rights for governmental and corporate security offerings. Minsk Transit Bank does not report to the US-based data provider Microfinance Information Exchange (MIX), and financial data on the bank is not available elsewhere in English.
Sources and resources:
[1] Data submitted by Finance in Motion to MicroCapital, February 2011
MicroCapital.org Article, July 3, 2009, “The European Bank for Reconstruction and Development (EBRD) Lends $10M from Its Microfinance Program to Minsk Transit Bank (MTB) of Belarus”, https://www.microcapital.org/microfinance-story-the-european-bank-for-reconstruction-and-development-ebrd-lends-10m-from-its-microfinance-program-to-minsk-transit-bank-mtb-of-belarus/
MicroCapital Microfinance 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 Microfinance Universe Profile: Minsk Transit Bank, https://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=Minsk+Transit+Bank
Browse the MicroCapital Universe and add your entry to the wiki at https://www.microcapital.org/microfinanceuniverse/
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