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 EU

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.