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  • Online session 4: The role of social and ethical finance
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Date

10:30 - 12:00

Participants

  • Karel VANDERPOORTEN and Dana Gabriela VERBAL (DG GROW & DG EMPL)

  • Joanna Wardzinska, TISE, Poland -. Social and Economic Investment Company TISE is a loan fund for NGOs, social enterprises, micro-enterprises and SME's. The Fund was established in 1991. Today it is owned by the French bank Crédit Coopératif, which has financed social economy projects for over 120 years. Initially TISE was financing small and medium enterprises through venture capital, granting credit guarantees and subordinated loans. Since 2008 TISE has been actively granting loans to NGOs, micro-enterprises and SMEs from its own funds and funds provided by partnering organisations such as the EIF Between 2008 and 2020 TISE granted 7000 loans totalling EUR 230 m.

  • Gabriele Giuglietti, Banca Etica. This cooperative bank operates in Italy and Spain. It was established thanks to the commitment of a number of individuals and organizations who joined forces to create a credit institution based on Ethical Finance principles: transparency, participation, sobriety, efficiency and attention to the non-economic consequences of economic actions. As already happened during the 2008 financial crisis, ethical finance is mobilized to support people and social enterprises in good and bad times. BA wants to give strength to an inclusive and supportive economy, to accompany the recovery of our communities, our spaces of aggregation and culture, of businesses. In this session BA will explain their main initiatives and actions to help their members and clients in the COVID19 crisis. 

  • Marie-Tiphaine François-Dainville, France Active. France Active has supported and financed companies for over 30 years and mobilized 370 million euros in the service of 7,700 companies in 2019.

    France Active calls itself a true movement of committed entrepreneurs whose ambition is to build a more united society. France Active has set itself this mission: "Accelerate the success of entrepreneurs by giving them the means to get involved".

Objectives

As a result of our collection of best practices from Social Economy and civil society in the fight against the Corona virus, we decided to share some of them in thematic on-line sessions.

This will give the chance to analyse and understand the modus operandi and allow learning opportunities for other regions, cities, ecosystems and social enterprises. We have selected for this session the topic the role Social and Ethical banks. In cooperation with FEBEA, the Federation of Ethical and Alternative finance in Europe, three pioneering banks will explain how they support their members and clients in this crisis from a financial institution's point of view.

The meeting format is classics: 15-25 min presentation 10- 15 min Q&A and discussion.

Registrations

Please request participation by sending an email to GROW-SOCIAL-ENTERPRISE@ec.europa.eu

You can register until the meeting starts. The participation link will be provided by email.

Points of discussion

Overview discussionTime recording

Joanna Wardzinska & Teresa Zagrodzka - TISE, Poland

Since the outbreak of the coronavirus, TISE supports their social economy entities that are loan-clients participating in the ES Fund-POKL or TISE-POWER project and allow them to benefit from adapted solutions by the Ministry of Funds and Regional Policy and Bank Gospodarstwa Krajowego (BGK). Clients who have found themselves in a difficult financial situation due to the epidemic can submit a special restructuring application.

Overall, the recommended approach to be adopted by financial institutions must be one with a first step dedicated to help customers, and a second step focused on financial institutions’ own liquidity.

TISE is helping its borrowers not only through financial instruments, but also to envision their future. This includes advice on future business plans amidst the crisis as well as local social support through their network in Poland. Such services allow their borrowers to go through the crisis and prepare for its aftermath.

The crisis hits some sectors more harshly than others, amongst which restaurants, social care or kindergartens. This calls for new ways of organising such services in the future, in order to adapt to the new realities brought on by the crisis, for which enterprises will need support.  

Links:

https://tise.pl/en/

https://www.ethicalbankingeurope.com/febea/members/tise-sa


Presentation


00:00- 00:36

Marie-Tiphaine François-Dainville - France Active, France

France Active mobilises with its partners, such as the French government, banks and public institutions (BPI France, Caisse des dépôts) to offer social entrepreneurs concrete solutions in times of crisis. France Active adopted an approach that follows their new motto: “today we face, tomorrow we restart”.

Through its two-stage process, France Active focusses on the one hand on adapting funding solutions to the times, and on the other hand on anticipating the economic recovery of social enterprises. This implies alleviating the financial obligations that weigh on social enterprises and associations in order to ease the difficulties currently faced. Such a mechanism is made possible because of the hybrid capital model of France Active (multiple resources and multi business activities) which involves both public and private partners. In addition, France Active helps with the preparation of recovery roadmaps and leverages its networks to promote exchange and collaboration amongst social entrepreneurs and relevant partners.

As the crisis proves to be very harsh for social enterprises, France Active is dedicated to protect social enterprises and to promote their model. They are convinced of the role social entrepreneurs can play in reconstructing the economy and our society after the crisis has passed, with the right helping measures to improve their resilience.


Shared links


Presentation


00:38 – 00:57

Gabriele Giuglietti - Banca Etica, Italy

The three main levers that must be emphasized in facing the crisis are liquidity, time and solidarity. Through its network and with the instruments made available notably at the European level (such the EaSI guarantees), Banca Etica helps support the social economy. They focus on alleviating the financial burden borne by both its actors and individuals, through tailor-made solutions. This allows for the most effective use of the instruments available today.

Banca Etica’s approach allows them to not only bet on economically and financially sustainable enterprises. They integrate social components in their evaluation process of potential customers, and give priority to social impact. The evaluation process is driven by many volunteers that make assessments and even visits of the enterprises.  In this way, they are able to help actors who might not seem resilient or 'bankable' at first glance, but prove to be thanks to their social model they can be made 'bankable' while still serving their social ambitions or impacts. Focusing on social resilience proves to be key in the face of the current crisis

Links:


Presentation


00:58 - end
Overview COVID19 response by FEBEA members