Investment: CDE
Centrul pentru Dezvoltare Economica (CDE)
Centrul pentru Dezvoltare Economica (CDE) is a nonprofit foundation established in 2000. Its objective is to provide financial services to underserved groups and rural entrepreneurs in economically deteriorating communities in Romania. The Center is organized as a one-stop resource for business management information, financial products and training. The Center was awarded three separate World Bank micro-credit projects, which helped to expand its operations from four to 38 branches throughout the country.
Why we invested
One of the negative impacts of the collapse of the Romanian centralized economy was high unemployment in the rural areas of the country. In order to address that issue, the local Open Society Foundation and SEDF supported the creation of CDE. The Center was organized as a non-bank finance organization to provide micro and small loans in rural areas to people looking to start micro-enterprises or to support existing small businesses.
Key Facts
Region: Central/Eastern Europe
Investment type: Loans
Investment amount: $1,700,000
Size: 11 branches, 37 employees
Website: http://www.cde.ro
Featured Story
For a Family's Future
In the town of Titu in southern Romania, Sorin Chiosea and his wife Angelica provide unique agricultural services to local farms. Before beginning this work, the couple needed to subsidize their income to ensure a decent living by working on their parents’ land. Once their daughter was born, however, the couple agreed that their low income was not enough to provide their daughter the quality of life they desired...
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