This annual report by the European Fund for Southeast Europe (EFSE) provides insights into how the impact investment fund has responded swiftly and forcefully to help micro and small enterprises (MSEs) in Southeast Europe and the EU Eastern Neighbourhood tackle the economic headwinds of the coronavirus crisis. Measures by EFSE consisted of approving nearly €280 million in new financing – a large proportion of which in local currency, thus protecting financial institutions and borrowers from exchange rate risk – as well as over 18 technical assistance projects for digitalisation, including e-sales as well as upskilling and reskilling. These activities resulted in support for 91,000 jobs and much-needed financing to 40,000 MSEs across the fund’s regions, conveyed through 67 on-the-ground financial institutions.
Interested in the latest news and opportunities?
This website is managed by the EU-funded Regional Communication Programme for the Eastern Neighbourhood ('EU NEIGHBOURS east’), which complements and supports the communication of the Delegations of the European Union in the Eastern partner countries, and works under the guidance of the European Commission’s Directorate-General for Neighbourhood Policy and Enlargement Negotiations, and the European External Action Service. EU NEIGHBOURS east is implemented by a B&S Europe-led consortium. It is part of the larger Neighbourhood Communication Programme (2020-2024) for the EU's Eastern and Southern Neighbourhood, which also includes 'EU NEIGHBOURS south’ project that runs the EU Neighbours portal.