In Spain, EFSI is supporting a social finance transaction under the EaSI Guarantee to help provide €9 million for social enterprises. The Colonya Caixa d’Estalvis de Pollença have signed an agreement with the European Investment Fund to provide loans to 150 social entrepreneurs, which include foundations and NGOs providing work integration opportunities for disabled people. This allows the beneficiaries to benefit from loans at a reduced interest rate and reduce other requirements. In France, EFSI is also supporting investment into Social Entreprises through the COSME programme. COSME is supporting France Active invest into social enterprises by providing a counter-guarantee for their “Fonds Entreprise Sociale”, for instance. This will allow non-profit social service providers to have reserved access to loans of up to €100,000.
In Ireland, EFSI is supporting the development of up to 14 primary care centres in Ireland, through an agreement with the National Development Finance Agency. The loan is through a Public Private Partnership with a proposed finance of €70 million, 27 year loan from the European Investment Bank. The EIB provides cheaper funding than other options available. The objective of these Primary Care Centres is to shift the focus of healthcare away from hospitals and into the community; thus allowing people to stay within their local community for longer.
HOUSING: In Poland, EFSI is supporting the construction of approximately 1300 affordable housing units with necessary infrastructure in Poznan, Poland. This is done through an agreement between the EIB and Poznan’s Social Building Society (Poznanskie Towarzystwo Budownictwa Spolecznego SP Zoo) with a loan by the EIB of approximately €33 million. In Portugal, EFSI is supporting a Framework Loan to the city of Lisboa for a series of projects, including building new social housing and providing major repairs to existing stock. This is done through a loan agreement in which the EIB finances €250 million. In a separate agreement the European Investment Banks together, with ESIF, the European Regional Development Fund and the Cohesion Fund is co-financing a €300 million loan which will support the social and economic regeneration of urban areas in Portugal. This funding will be used to contribute to improving the quality of life in Portugal through the regeneration of housing, public spaces and infrastructure located in residential areas and city centres, on waterfronts and in former industrial areas. In France an agreement between the EIB and SNI Group wil mean that the EIB will provide a €200 million loan for the refurbishment of 25 000 social housing units in France. The money will be used to partly finance a €770 million project which hopes to modernise and increase the energy efficiency of social housing.
In Finland EFSI is supporting the integration of between 2,500 and 3,700 migrants and refugees into the Finnish labour market in a social bond scheme which is first of its kind in Europe. The scheme is the result of an agreement between the European Investment Fund (EIF), Epiqus, a fund manager dedicated to investments with a social impact, and the Finnish Ministry of Economic Affairs and Employment. The €10 million loan, provided by the EIF, was made possible with the support of EFSI who provides assurance on the loan. The aim of the scheme is to facilitate and accelerate the entry of immigrants into the labour market by providing customised integration training in the workplace. In Croatia, the EIB and Croatian Bank for Reconstruction and Development (HBOR) have signed a credit line agreement for €250m which will help to improve the employment levels of young people. The investment forms a part of a larger, €800m lending framework which will support investment in small and medium-sized companies (SMEs) and municipalities. Alongside this credit line and lending framework the EIB’s Investing for Youth initiative is offering additional support to final beneficiaries who demonstrate that their investment project has contributed to the creation of jobs for young people.