IFISE

DG REGIO

Innovative Financial Instruments in support to the Social Economy
The IFISE Project

 

Finpiemonte is Coordinator of the IFISE project, funded by the European Commission Directorate-General for Regional and Urban Policy.

IFISE is a Multi-regional assistance project under the Fi-compass action, for the assessment of the potential use of financial instruments supported by the ERDF and ESF in accordance with Title IV of Regulation (EU) 1303/2013.
The purpose of the Fi-Compass Multi-regional assistance (MRA) projects is to facilitate the exchange and mutual learning between regions.
MRA projects are aimed to target the possible use of Financial Instruments in shared priority investment areas and provide expertise from international and national financial institutions.

PARTNERS

The IFISE project includes Piedmont (Finpiemonte), Lombardy (Finlombarda and Regione Lombardia), Andalusia (IDEA regional financial and development agency) and Valencia (Generalidad Valenciana and Institut Valencià de Finances).

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.

DURATION AND OBJECTIVES

Started on 22 September 2017, this MRA project will last only 12 months and will therefore have concrete ambitions and objectives.
With the aim to approach the operational feasibility of Innovative Financial Instruments within Structural Funds, the action will work 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.

EXPECTED OUTPUT

  • Definition of an innovative set of FIs intended for supporting social enterprises/initiatives, and supplied with methodologies for impact assessment;
  • set-up of a replicable training scheme and agenda, based on specific modules of in class training with selected experts from different countries;
  • production of a handbook and guidelines.

TARGET

The range of activities involved in the field of “Social Economy” can be extremely wide, including all those initiatives which respond to societal challenges faced by most European regions (unemployment, youth engagement, social exclusion, ageing, health, wellbeing, natural resources, agriculture, etc.).

Social enterprises are entrepreneurial organizations that innovate to solve problems and have a positive social and environmental return. In a broader perspective, even  enterprises without a core business strictly social can generate a relevant social impact and positively contribute to face such challenges.

MAIN ACTIVITIES

The action will be developed through desk analysis, dedicated training, workshops and exchange of expertise, and will see 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 for 2014-2020.
  • Capacity building activity: in class training on technical and legal aspects; field work on real cases with the support of a external experts.