logo IFISE 

Innovative Financial Instruments in support to the Social Economy

The IFISE Project

Co-funded by the European Commission, IFISE is a Multi-regional assistance (MRA) project under the Fi-compass action, for the assessment of the potential use of financial instruments supported by the European Regional Developement Fund (ERDF) and the European Social Fund (ESF) in accordance with Title IV of Regulation (EU) 1303/2013.

The IFISE project includes four Regions in Italy and Spain: Piedmont (Finpiemonte as project coordinator), Lombardy (Finlombarda and Regione Lombardia), Andalusia (the Agency of Innovation and Development of Andalusia IDEA) and Valencia (Generalidad Valenciana and Institut Valencià de Finances).

 Finpiemonte  logo-regione-lomb  finlombarda  1200px-Imagotip_de_la_Generalitat_Valenciana.svg  logo IVF idea 

The purpose of the Fi-Compass Multi-regional assistance (MRA) projects is to facilitate the exchange and mutual learning between regions. IFISE is aimed to target the possible use of Financial Instruments in the area of social economy: the Regional authorities and agencies involved in IFISE consortium share the vision that there is a need to strengthen alternative financing channels to fill the bank financing gap for the smaller segment of social enterprises.

Started in September 2017 and completed in June 2019, this MRA project worked on capacity building of managing authorities and intermediate bodies, with the final aim to extend the offer of funding instruments to the actors in the wide field of social economy. The action aims to overcome the conventional bank approach based on balance sheets and business plans, leading to social investments which fully value social, environmental, cultural and other territorial returns.

Desk analysis, dedicated training, workshops and exchange of expertise, with the support of experts from national/international financial institutions and from the academia. Main activities include:

  • Mapping of the state of the art of existing financial instruments for the social sector in Europe and assessment of good practices.
  • Matching between possible FIs and the regional needs, in the framework of the ERDF and ESF regional operational programmes.
  • Capacity building activity: in class training on technical and legal aspects; field work on real cases with the support of external experts.

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