Partners and investors gather in Mostar as EFSE marks 20 years of impact and investment

Mostar, 16 September 2026 – The European Fund for Southeast Europe (EFSE) marked its 20th anniversary today in Mostar, bringing together shareholders, investors, policymakers, partner financial institutions, and development partners to reflect on two decades of supporting economic development across Southeast Europe and the Caucasus.  

Over the past 20 years, EFSE has demonstrated how development finance can deliver both impact and financial sustainability by combining public-sector commitment with private-sector capital. Through its network of partner financial institutions, the Fund has expanded access to finance for micro, small, and medium-sized enterprises (MSMEs) and households, helping strengthen local financial sectors and economic resilience. EFSE was established as a public-private partnership by KfW Development Bank with the support of the European Commission and the German Federal Ministry for Economic Cooperation and Development (BMZ). 
 

The anniversary event brought together representatives of the European Union, BMZ, shareholders, investors, banks and investees to discuss the role of development finance in addressing the region's evolving economic challenges and opportunities.

Linda Broekhuizen, Chairperson of EFSE, said: “For 20 years, EFSE has demonstrated what is possible when public and private partners work together with a shared purpose. What began as an innovative idea has grown into a resilient platform that has helped unlock access to finance for local businesses, reinforced local livelihoods, and strengthened financial sectors across Southeast Europe and the Caucasus. As we look ahead, our commitment remains unchanged: to mobilize investment where it is needed most, create opportunities for local businesses and communities, and contribute to inclusive and sustainable economic development across the region.”

Volker Oel, Director-General Eastern Europe at BMZ shared: “EFSE represents a best-practice model for how a well‑designed public–private partnerships can contribute to peace, economic resilience and social inclusion.”

Ambassador Luigi Soreca, Head of the EU Delegation and EU Special Representative in Bosnia and Herzegovina, said: “Access to finance is an important tool to deliver real opportunities across the entire country—reaching communities outside the major cities, and supporting entrepreneurs who face the steepest barriers. Over two decades, EFSE has delivered, unlocking nearly €800 million for 240,000 entrepreneurs. EFSE stood by small and medium sized enterprises in Bosnia and Herzegovina during some of the most difficult moments, including during the Covid pandemic and in the aftermath of the economic shock caused by Russia’s war of aggression against Ukraine. Small and medium sized enterprises generate 70% of all jobs in the Western Balkans, and the EU remains committed to supporting them, including through the EUR 250 million that the EU has invested in EFSE since its creation.”

 

Jasmina Selimović, Governor of the Central Bank of Bosnia and Herzegovina commented: “As EFSE enters its third decade, the anniversary in Mostar underscored a shared commitment to building on two decades of partnership, investment, and economic opportunity across the region.” 

 

About EFSE

An impact investment fund established in 2005, the European Fund for Southeast Europe (EFSE) aims to foster economic development and prosperity in Southeast Europe and the European Eastern Neighborhood Region. EFSE was initiated by KfW Development Bank with the financial support of the German Federal Ministry for Economic Cooperation and Development (BMZ) and the European Commission. As the first public-private partnership of its kind, EFSE draws its capital from donor agencies, international financial institutions, and private institutional investors. Finance in Motion Asset Management S.à r.l., serves as EFSE’s Portfolio Manager and Hauck & Aufhäuser Fund Services S.A., Luxembourg, acts as manager.  

For more information on the European Fund for Southeast Europe, please visit: www.efse.lu  

About Finance in Motion

Finance in Motion structures, manages, and advises almost €4 billion across 10 funds, all classified as SFDR Article 9. These private market funds drive impact for people and planet through regional financial intermediaries, direct investments, advisory and capacity building. Founded in Germany, with local expertise from Latin America to Eastern Europe, it has been investing in emerging markets for over 20 years.  

For more information, please visit: www.finance-in-motion-com    
 

About Microcredit company EKI:

Established in 1996 through a programme of World Vision International, EKI began its work by providing microfinance support to individuals and small businesses in local communities across Bosnia and Herzegovina. In 2008, the organisation continued its activities as Microcredit Foundation EKI (MCF EKI), while in 2013 it expanded its operations through the establishment of Microcredit Company EKI (MCC EKI).

Today, MCF EKI and MCC EKI operate alongside each other, providing financing solutions to individuals, entrepreneurs, farmers and micro, small and medium-sized businesses across Bosnia and Herzegovina.  

Over three decades, MCO EKI has expanded its presence to 87 branches and now serves around 39,000 clients with a team of 431 employees and a portfolio of approximately BAM 300 million. 

 

Media Contacts: 

EFSE: Nusha Westhoff 
Director Marketing & Communications 
+49 69 271 035-789 
press@efse.lu