Press Release: European Commission to support the European Fund for South East Europe

The European Commission on 19 June 2006 launched a €60 million participation in the European Fund for South East Europe (EFSE). EFSE is a Luxembourg investment fund set up to support private sector development in the countries of the Western Balkans. To this end, EFSE extended credit lines to banks and micro finance organisations of the region. The EFSE would initially provide financing to Bosnia and Herzegovina, Serbia, Montenegro and Kosovo, and may expand to other Southeast European countries.