The European Fund for Southeast Europe’s (EFSE) Impact Report showcases the fund’s accomplishments in supporting entrepreneurs as the drivers of micro and small enterprises (MSEs) – the economic backbone of the fund’s target regions.

EFSE aims to foster economic development and prosperity in Southeastern Europe and in the European Eastern Neighbourhood region – where it receives funding from the European Union as part of the EU4Business initiative – through the sustainable provision of additional development finance, notably to MSEs and private households, via qualified financial institutions. 

This report illustrates the key role that the fund plays not only in promoting a robust and healthy financial environment for existing MSEs to prosper, but also in connecting budding entrepreneurs to the resources and support they need to turn bright ideas into successful new businesses. 

The European Fund for Southeast Europe (EFSE) was initiated by KfW Development Bank (KfW) with the financial support of the German Federal Ministry for Economic Cooperation and Development (BMZ) and the European Commission. 

The report can be read online as an interactive report or downloaded as a complete PDF.