EFSE boosts Halkbank partnership with loans totalling EUR 15 mln  

EFSE’s investment will finance housing and micro and small enterprises

Frankfurt and Skopje, 22nd December 2016 -- The European Fund for Southeast Europe (EFSE) has lent EUR 15 million to Halkbank AD Skopje to support Macedonia’s private housing sector and micro and small enterprises (MSEs).

The senior loans – EUR 10 million for housing and EUR 5 million for businesses – increase Halkbank’s ability to finance housing and home improvements for retail borrowers and provide long-term loans to MSEs. Halkbank and the EFSE have been partners since 2006, and the fund has continued to offer financing for on-lending to low-income households and MSEs in Macedonia while supporting Halkbank's strategic orientation towards these market segments.

EFSE Board Chairman Christoph Tiskens said: “These loans are the latest in a long line of investments that underscore the EFSE’s strong partnership with Halkbank. We have been working together for a decade, and the dedication of both partners to private households and small enterprises continues unabated.”

“This loans are in line with the mission of Halkbank to provide banking services that will support long-term and sustainable development of the private sector with home improvement projects customized for the Macedonian’s retail market. Cooperation with EFSE had a significant and strong impact particularly on developing our micro and small business customers and support the retail sector in Macedonia. With these loans the bank continues mission to promote economic development and prosperity of the citizens in the region”, said Turhan Ademi, Acting Chief Executive Director of Halkbank AD Skopje.

About the European Fund for Southeast Europe

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. It aims to foster economic development and prosperity in Albania, Armenia, Azerbaijan, Belarus, Bosnia and Herzegovina, Bulgaria, Croatia, former Yugoslav Republic of Macedonia, Kosovo, Georgia, Moldova, Montenegro, Romania, Serbia, Ukraine and Turkey. As access to finance is a key success factor in developing the micro, small and medium enterprise segments, the EFSE focuses on assisting local financial sectors in strengthening their ability to ensure adequate and sustainable financing. The funding the EFSE provides as long-term finance primarily for micro and small enterprises (MSEs) – but also for private households in the form of home improvement loans – is channelled to these loan customers through local partner lending institutions. Supporting the EFSE’s investment activities is the EFSE Development Facility, which provides partner lending institutions with technical assistance, consulting and training services to build operational capacities and professional management.

Initiated by KfW Development Bank (KfW) on 15 December 2005 from four multi-donor programs under its management, the EFSE is the first public-private partnership of its kind and the first privately managed fund in development finance to leverage private funding for MSE finance in the target region. Capital is provided by donor agencies, international financial institutions and private institutional investors, including the German Federal Ministry for Economic Cooperation and Development (BMZ), the European Commission (EC), the Government of Albania, Small and Medium Business Credit Support CJSC (SMBCS), a subsidiary of the Central Bank of Armenia, the Development Bank of Austria (Oesterreichische Entwicklungsbank - OeEB), the Swiss Agency for Development and Cooperation (SDC), the Danish International Development Agency (Danida), KfW as Lead Investor, the International Finance Corporation (IFC), the Netherlands Finance Company (FMO), the European Bank for Reconstruction and Development (EBRD), the European Investment Bank (EIB), Sal. Oppenheim and Deutsche Bank.

Oppenheim Asset Management Services S.à r.l., Luxembourg acts as the EFSE’s Fund Manager and Finance in Motion GmbH, Germany as Advisor.

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

About Halkbank

Halkbank AD Skopje (Halkbank) is raising the bar for speed and quality in financial services within the Macedonian market by implementing innovative processes in its business. With 36 branches in Macedonia, correspondent relationships with over 400 banks and account relationships with 13 foreign banks, Halkbank has a broad national and international network.

A large-sized bank by NBRM standards, Halkbank enjoys a sterling reputation as a trustworthy, customer-oriented, innovative and dynamic bank in the Macedonian market.

Halkbank is also a socially and eco-responsible institution: since its beginnings in Macedonia, the bank has continuously supported environmental development and protection, many socially concerned segments, as well as sports and culture. In the area of long-term development financing in particular, the bank has long-term partnerships with international financial institutions that are benefiting the Macedonian economy as a whole.

In 2015 Halkbank has showed continuity in supporting of the real  sector and economy, while the quality of the offered services remained  high. The loan portfolio of the Halkbank showed an increase from EUR 275,7 million to EUR 335,5 million, or 21%. The lending of market recorded a net increase of 392 Eurs where Halkbank had a leading share of 15,2% of the total approval or payment with additional 59,8 mil Euros to Macedonian companies and citizens.

For more information, please visit http://www.halkbank.com.mk.

Media contact EFSE

Eric Culp

Press Officer

e-mail: press@efse.lu

Tel: +49 (0)69 271 035-307

 Media contact Halkbank

 PR Department

E-mail: pr@halkbank.mk

Tel: +389 (0)2 3250 926

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