Română 
Cristina Dumitrescu, Senior Investment Manager, European Investment Fund (EIF) spoke at Enterprising for Tomorrow 2024 conference about the role and impact of the EIF in supporting the social economy, particularly through financial and guarantee products aimed at micro, small, and medium-sized enterprises, including social enterprises.
“We have mobilized over 5-6 billion euros in guarantees and financing products, supporting around 2,600 micro and social enterprises in Europe.”
Cristina Dumitrescu, Senior Investment Manager, European Investment Fund (EIF)
Discussion Highlights
- Role of the European Investment Fund (EIF):
- The EIF is a European institution that assumes the risk to facilitate access to finance for European SMEs (small and medium-sized enterprises), including micro-enterprises, social enterprises, and startups.
- Products and Services:
- The EIF operates two main lines of business: financial products (loans and guarantees) and equity products (investments in funds).
- History and Impact:
- The first financial products dedicated to financial and social inclusion were launched in 2010 under the Progress Microfinance program, targeting micro-enterprises created by vulnerable groups such as the unemployed, women, youth, and seniors.
- Subsequent programs include the Easy program and the InvestEU program, which have significantly contributed to the social economy.
- Achievements:
- Over the past 15 years, the EIF has mobilized over 5-6 billion euros in guarantees and financing products, supporting around 2,600 micro and social enterprises across Europe.
- Notably, 70-75% of these enterprises received their first credit through these products, highlighting the impact on financial inclusion.