Innovative Enterprise Fund (ENEF)

active

KfW holds a trust stake of EUR 10 million on behalf of the German government in the Enterprise Expansion Fund II (ENEF II), a compartment of the Enterprise Expansion Platform. ENEF II is a pillar of the Western Balkan Enterprise Development and Innovation Facility (WB EDIF) private sector initiative, which aims to provide capital to young and growing micro, small and medium-sized enterprises (MSMEs) in the target countries. In addition to providing equity and debt capital for MSMEs and guarantees for local banks, the focus of this initiative is on improving the regulatory and financial framework for the establishment and growth of MSMEs in the region. As part of this initiative, ENEF II provides SMEs with needs-based financing solutions (both traditional equity and tailor-made debt instruments) as expansion capital. In addition, improvements in ESG compliance and digitalization are to be achieved through extensive pre- and post-investment advice. These measures improve the competitiveness of SMEs and promote economic development and employment in the region. The target countries of the FC measure are Albania, Bosnia-Herzegovina, Kosovo, Montenegro, North Macedonia and Serbia.