EFSE and SEF International Expand Local Currency Financing for Rural MSEs in Armenia
European Fund for Southeast Europe (EFSE) has provided SEF International with financing in local currency totaling the equivalent of EUR 2.3 million. With the investment, the fund aims to help SEF International meet the financing needs of rural micro and small enterprises (MSEs), especially farmers and agricultural producers, in a responsible manner and thus contribute to the economic development of communities in rural Armenia.
SEF International has been an EFSE partner since 2016, pursuing a strong social mission of financial inclusion for MSEs – including women entrepreneurs, who account for over half of the institution’s borrowers. The majority of SEF International’s clients are from rural areas, supporting businesses that sustain over 215,000 jobs. The EFSE funding is expected to enable SEF International to further enhance its outreach to this target group by providing dedicated funding in local currency.