AFIN – Alternative Financing IFN S.A. announces the launch of the Social Investment Fund AFIN, an initiative funded through the European Social Fund+ (ESF) / Employment and Social Innovation (EaSI) Program, with the primary goal of bridging the financial gap for social enterprises in Romania. The project is coordinated by Fundația Alături de Voi România (ADV România) and brings together partners from Romania, Belgium, France, and Spain. It will be implemented over a period of 30 months (December 1, 2024 – May 31, 2027), with a total budget of €470,362.
A social investment fund for a sector with impact
By creating a Private Social Investment Fund, the project aims to facilitate social enterprises' access to repayable financing, contributing to reducing dependency on grants and supporting the scaling of their operations. Thus, AFIN and its partners are developing a sustainable financial instrument, aligned with national and European regulations, designed to support the development of the social economy ecosystem.
Project Objectives
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Assessing the financing needs of social enterprises in Romania and identifying investment opportunities from economic and social stakeholders.
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Developing the professional and managerial capacities of the partner consortium for the efficient management of the Social Investment Fund.
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Creating and implementing a tailored financial instrument that complies with Romanian and European legislation, ensuring the sustainability and accessibility of financing for social enterprises.
Project Beneficiaries
Through collaboration with partners such as MicroEurope, Phitrust SAPO, and FEBEA, the project will provide integrated financial services for social enterprises and social impact organizations (NGOs, LLCs, etc.). Additionally, the involvement of AFIN IFN, RISE, and Social Finance Association will support the development of customized financial products, market analysis, and mentoring for direct beneficiaries.
Among the main beneficiaries are social enterprises facing financial constraints, as identified in the European Social Enterprise Monitor. Additionally, investors and business development organizations will gain a better understanding of the needs of this sector, contributing to the creation of a strong and sustainable financial ecosystem.
Long-Term Impact
Through this initiative, the Social Investment Fund AFIN will facilitate access to financing for cooperatives, NGOs, credit unions, and newly certified social enterprises, supporting economic development and strengthening the social economy sector in Romania.
Pentru mai multe detalii despre proiect și oportunitățile de finanțare disponibile, vizitați www.afin.org.ro sau contactați echipa AFIN.
Contact:
AFIN IFN S.A.
Email: contact@afin.org.ro
Website: www.afin.org.ro
About AFIN – Alternative Financing IFN S.A.
AFIN is a key player in developing alternative financing mechanisms for social enterprises in Romania, with a mission to support the growth of the social economy through innovative and sustainable financial solutions.