AFIN Social Investment Fund – The Foundation of a Future Social Investment Fund for Romania
AFIN Social Investment Fund – The Foundation of a Future Social Investment Fund for Romania
Difficult access to financing is one of the biggest challenges faced by social enterprises in Romania. In this context, the AFIN – Social Investment Fund project proposes a concrete and systemic solution: laying the groundwork for the first private Social Investment Fund in Romania, specialized in supporting social economy actors.
The initiative is carried out with the support of the European Commission, under the ESF-2023-SUPPLY-DEMAND call, and brings together international expertise from four countries: Romania, Belgium, France, and Spain.
🔹 A project for the future of the social economy in Romania
AFIN – Social Investment Fund is not (yet) a functional fund, but rather a strategic development project that will run until 2027 and aims to decisively reduce the financing gap faced by social enterprises in Romania. The ultimate goal: to create a sustainable and tailored financial instrument, designed to meet both the real needs of impact-driven organizations and national and European regulatory requirements.
🔹 Who are the partners?
Main partners:
- Social Finance Association (Romania)
- MicroEurope S.C.R. PYME Sociedad Anónima (Spain)
- Phitrust Partenaires (France)
- FEBEA – European Federation of Ethical and Alternative Banks and Financiers (Belgium)
Associated partners:
🔹 What are our objectives?
The project follows three strategic directions:
- A realistic assessment of the financing needs of social enterprises in Romania and the potential for attracting impact capital;
- Development of the institutional and professional capacity of the consortium to establish and manage the fund;
- Design of a viable financial instrument, aligned with national and European legislation.
🔹 A new instrument for impact-driven organizations
Through collaboration between financial experts, impact investors, and social economy actors, AFIN – Social Investment Fund aims to become, by 2027, an integrated model designed to:
- offer accessible repayable financing (ethical loans);
- reduce dependence on grants;
- support the scaling of social enterprises’ activities;
- contribute to the strengthening of the sector’s sustainability.
Targeted beneficiaries include:
- newly established or growing social enterprises;
- NGOs with economic activities;
- cooperatives and mutual aid societies;
- organizations from vulnerable groups and disadvantaged areas.
🔹 European Support for Alternative Financial Instruments
At the conference “Mission Possible: Removing Barriers to Finance for Social Entrepreneurs,” Brigitte Fellahi-Brogneaux, Head of Unit G3 – Social and Inclusive Entrepreneurship, European Commission, emphasized the essential role of such initiatives:
“It is an honor to be part of this event in such an important context, marked by a highly dynamic social economy and social finance landscape.”
She highlighted the need to combine grants with guarantees and to invest in microfinance, equity capital, and tailored financial products, through programs such as InvestEU and ESF+. AFIN – Social Investment Fund is perfectly aligned with these strategic directions.
🔹 Conclusion
AFIN – Social Investment Fund is more than just a project: it is a strategic step toward building a mature and inclusive financial ecosystem where social enterprises have real access to growth resources. Through European collaboration, financial expertise, and deep understanding of the local market, this initiative sets in motion a new kind of investment—one that puts impact first.
📌 For more information about the project and its partners:
👉 https://finantaresociala.ro/ro/european-projects/5/social-investment-fund-afin/www.afin.org.ro
Video Link on YouTube: https://youtu.be/DHiVC1TzOEE
June 19, 2025
