Ethical financial infrastructure

European Ethical Bank

A digital European bank operating on ethical banking principles, ultimately owned by its clients - the missing link between European development funds and local community projects.

€175B

EU financing gap

Bridging the financing gap

Over one million financially viable small and medium enterprises in the EU cannot obtain loans - resulting in a market gap of €175 billion. EEB is designed as the missing link in the current system.

Local partner network

EEB issues loans through a network of local strategic partners - ethical microfinance institutions, cooperative alliances, and local social funds that have grown from communities. These partners won't just serve as a link in the chain - they will be co-owners of the bank.

Digital platform

EEB is envisioned as a digital institution built on a high level of automation. No legacy balance sheets or expensive branch networks. The banking platform handles everything from credit applications to impact monitoring, and is planned to be offered as a service to other ethical financial services.

Why a new bank?

More than 1 million sustainable SMEs in the EU lack access to financing. The funding gap for sustainable projects exceeds €175 billion. Existing banks are structurally unable to drive the sustainability transformation.

Disconnection from the real economy

Traditional banks fail to meet the financial needs of European SMEs and communities.

Social and environmental incompatibility

Banks lack operational business models that would guarantee sustainability against SDG and ESG criteria.

Outdated infrastructure

Extremely high IT and organizational compliance costs hinder change.

Our solution

Positive values embedded in the bank's DNA, within the FairShares enterprise model.

""Communities must own their own financial infrastructure to use their assets for the common good.""

Goran Jeras, co-founder and Managing Director of ZEF

Human dignity

Economy for the Common Good principles embedded in the bank's DNA

Solidarity and social justice

Focus on value creation rather than profit

Environmental sustainability

Investment exclusively in sustainable projects

Transparency and co-decision

FairShares model - community ownership

Modern IT architecture

Cloud-based infrastructure powered by distributed ledger technology, high process automation, and a flexible development framework ensuring cost-effectiveness and new revenue streams by providing technology services to other ethical financial institutions.

The bank will be licensed in Lithuania, a European leader in financial innovation. As an EU and Eurozone member, the license enables banking operations across all EU member states, including Croatia, as well as Norway, Iceland, and Liechtenstein.

Portfolio structure

Distribution of EEB's investment portfolio on the asset side of the balance sheet.

Cities & habitats

Affordable housing, electromobility, public infrastructure, nature conservation

Energy

Distributed green energy, storage, energy efficiency

Food & agriculture

Organic farming, sustainable fishing, short supply chains

Manufacturing

Natural material construction, circular economy, digitalization

Social inclusion

Social enterprises, integration of vulnerable groups, health, sports

Education & culture

Educational institutions, creative industries, sustainable tourism

Sustainability methodologies

How we measure sustainability

Ethical banking without credible sustainability measurement is just marketing. ZEF and its partners in the EEB initiative use three complementary frameworks to assess project impact.

Economy for the Common Good (ECG)

A global network of organizations with one of the most comprehensive sustainability reporting methodologies. Operates across the entire value chain, aligned with UN SDGs and EU regulations. ZEF is the local branch for Croatia.

Sustainable Development Indicators (UNRISD)

Sustainability measurement methodology developed by a UN agency. Rooted in triple materiality principles - the impact of economic activity on local bioregenerative capacities. ZEF is part of the international working group.

Cooperatives in Croatia

Croatia is the only European country without an umbrella cooperative organization. It is estimated that there are fewer than 100 active cooperatives with fewer than 5,000 members. ZEF and EEB are building the infrastructure to change that.

Join us in building ethical banking

ZEF and its partners have completed over 80% of the licensing process for the European Ethical Bank. Learn more about the partners and become a member.