Social Investment Fund AFIN
Project title: AFIN – Social Investment Fund
Funded by: European Union, European Commission – European Social Fund+ (ESF) / Employment and Social Innovation (EaSI)
Grant Agreement: 101189328 — AFIN
Period: 30 months (1 December 2024 – 31 May 2027)
Total budget: 470.362 EUR
Coordinator: ALATURI DE VOI ROMANIA FOUNDATION (ADV Romania)
Partners:
- SOCIAL FINANCE ASSOCIATION - ASOCIATIA PENTRU FINANTARE SOCIALA (SFA Romania)
- MICROEUROPE S.C.R. PYME SOCIEDAD ANONIMA (MICROEUROPE ESP Spain)
- PHITRUST PARTENAIRES (Phitrust France)
- FEDERATION EUROPEENNE DE FINANCES ET BANQUES ETHIQUES ET ALTERNATIVES (FEBEA Belgium)
Associated partners:
- AFIN-ALTERNATIVE FINANCING IFN S.A. (AFIN Romania)
- RISE ROMANIA - The Romanian Network of Insertion Social Enterprises (RISE Romania)
Participating countries: Romania, Belgium, France and Spain
About the project: The AFIN – Social Investment Fund project, funded under the ESF-2023-SUPPLY-DEMAND call, aims to bridge the financial gap for social enterprises in Romania by establishing a dedicated private Social Investment Fund. This initiative will improve access to finance, build the capacity of social enterprises, and strengthen the social economy ecosystem. The project brings together financial experts, impact investors, and social economy actors to develop a sustainable financial instrument aligning with Romanian and EU regulations.
Project objectives:
- Assess the financing needs of social enterprises in Romania and identify investment potential from social and business actors.
- Develop the professional and managerial capacity of the partner consortium to successfully establish and manage a Social Investment Fund dedicated to social enterprises.
- Create and implement a financial instrument tailored to the needs of social enterprises, ensuring compliance with Romanian and EU legislation.
Beneficiaries:
By leveraging the expertise of partners such as MicroEurope, Phitrust SAPO, and FEBEA, the project aims to provide comprehensive financial services to social enterprises in Romania and social impact organizations (NGOs, limited liability companies, etc.) through an integrated service delivery model. Collaboration with AFIN IFN, RISE, Social Finance Association, and other relevant stakeholders will support key aspects such as product development, market analysis, and mentoring services.
The primary beneficiaries of the project are social enterprises in Romania, particularly those facing financial constraints, as identified in the European Social Enterprise Monitor. Additionally, investors and business development organizations will gain a deeper understanding of the financial needs of social enterprises and enhance their ability to design and manage tailored financial products.
The establishment of the Social Investment Fund will provide social enterprises with access to repayable financing, reducing their reliance on grants and enabling them to expand and scale their operations. In the long term, a stronger financial ecosystem will support a broader range of social economy organizations—including cooperatives, NGOs, credit unions, and newly certified social enterprises (social impact organizations)—by offering sustainable financing opportunities and business development support, thereby fostering growth and strengthening the sector.
4o
Feb. 10, 2025
