As stated by the IFC, the proposed project is an investment of up to EUR50 million or its USD equivalent in A-shares of The European Fund for Southeast Europe S.A., SICAV-SIF. IFC’s proceeds will support financing of the Fund’s micro, small and medium enterprises with at least 40 percent of the proceeds to finance women-owned MSMEs.
EFSE is a structured debt fund channeling long-term capital for on-lending to MSMEs through bank and non-bank financial institutions (FIs). In addition, EFSE’s Development Facility provides technical assistance to FIs and entrepreneurs to complement the Fund’s impact. The Fund’s assets under management stand at EUR1.2 billion as of June 30, 2023, diversified among 71 FIs in Southeast and Eastern Europe and Türkiye.
Domiciled in Luxembourg, the Fund invests in 16 countries in Southeast and Eastern Europe, Türkiye, and European Neighborhood.
As stated by the IFC, the Fund has a variable capital structure, comprised of six types of securities: (i) junior C shares, (ii) junior L shares (iii) mezzanine B shares, (vi) senior A shares, (v) junior notes, and (vi) senior notes. KfW Entwicklungsbank is the promoter for the Fund.
KfW Entwicklungsbank is the Fund’s initiator. IFC has been an investor in the Fund since its inception in 2005.
EFSE is advised by Finance in Motion GmbH. Finance in Motion is responsible for managing the Fund’s investment activities.
General IFC Inquiries - IFC Communications:
Address: 2121 Pennsylvania Avenue, NW, Washington DC 20433
Telephone: +1 202-473-3800
Fax: +1 202-974-4384
Financial Intermediary - Finance in Motion GmbH:
ACCESS TO INFORMATION
You can submit a request for information disclosure at: https://disclosures.ifc.org/#/inquiries
If you believe that your request for information from IFC has been unreasonably denied, or that this Policy has been interpreted incorrectly, you can submit a complaint at the link above to IFC's Access to Information Policy Advisor, who reports directly to IFC's Executive Vice President.
ACCOUNTABILITY MECHANISM OF IFC/MIGA
The Compliance Advisor Ombudsman (CAO) is the independent complaint mechanism and fact-finding body for people who believe they are likely to be, or have been, adversely affected by an IFC or MIGA- financed project. If you submit a complaint to the CAO, they may assist you in resolving a dispute with the company and/or investigate to assess whether the IFC is following its own policies and procedures for preventing harm to people or the environment. If you want to submit a complaint electronically, you can email the CAO at CAO@worldbankgroup.org You can learn more about the CAO and how to file a complaint at http://www.cao-ombudsman.org