The European Fund for Southeast Europe (EFSE) has provided the local currency equivalent of EUR 2 million to new partner Vitas IFN to advance financial inclusion for entrepreneurs in Romania. The facility is expected to unleash over 300 business loans in local currency for micro and small enterprises (MSEs), many of whom would otherwise have limited to no access to financing.
Vitas IFN, a member of Vitas Group, is one of the leading microfinance institutions in Western Romania. It specializes in providing financial services to underbanked micro and small enterprises and individual entrepreneurs, including agricultural producers and farmers. Vitas IFN currently serves over 1,800 clients from its 11 offices across the region.