The Micro Enterprise Development program started in 1997 as a part of World Vision’s sustainable development approach to create job opportunities for the poor in Armenia.

To carry out a full-range of credit activities through urban and rural branches in Armenia, World Vision International founded SEF International in 1998. Currently SEF International is owned by VisionFund International – a subsidiary of WVI specialized in microfinance.

Since 2003 SEF is licensed and regulated by the Central Bank of Republic of Armenia.

Currently SEF is operating through two branches in Yerevan, branch offices in Gyumri, Sisian, Armavir, Artashat and Kapan, and representative offices in Talin, Stepanavan, Goris, Meghri and Eghegnadzor. The majority of SEF clients are located in the poorest rural communities.

SEF provides loans for farmers, sole proprietors and small enterprises, renovation and consumer loans.