Mission and Vision

The Cluster for Ethical Financing of Entrepreneurship /CEFE/ is a voluntary, non-political, self-organizing association whose main objectives are to support the introduction of ethical financing of entrepreneurship in Bulgaria by developing projects in several directions

Ethical Finance

"Ethical investment" and "ethical banking" which become more and more popular in Europe and in the world are the reaction and a form of the discontent of the people and businesses from the market behavior of the traditional banks, especially after the global financial crisis.


The Cluster is open to all. Members may be natural and legal persons - cooperatives, micro-finance organizations and other companies and entities, universities and professional schools; research organizations, municipal and state structures which support ethical financing of entrepreneurship in Bulgaria.