COFIDES, through the Social Impact Fund (FIS), has granted a €3 million loan to Suara Cooperativa, a non-profit social economy organisation, to support the development of two social impact projects: the creation of a Residential Educational Care Centre (CRAE) in Barcelona and the expansion of Casal TV, a digital support platform for older adults.
RESIDENTIAL EDUCATIONAL CARE CENTRE
Part of the financing will support the refurbishment of a floor in a building acquired by Suara, which will be converted into a Residential Educational Care Centre (CRAE). The new centre will have capacity to accommodate and care for 20 children and adolescents under child protection measures. Its care model will combine emotional support, family intervention and proactive follow-up, with the aim of providing a stable and safe environment for children and young people in particularly vulnerable situations.
SUPPORT FOR OLDER ADULTS
The FIS financing will also support the expansion of Casal TV, a digital support service for older adults that uses television as its primary communication channel to encourage social interaction and combat the negative effects of isolation and sedentary lifestyles. The project is currently operating in seven municipalities across Catalonia and aims to expand to additional municipalities and other regions of Spain, reaching a greater number of people at risk of unwanted loneliness. At this initial stage, the service has 60 users, and this number is expected to grow significantly thanks to the investment provided by the FIS.
The transaction also includes €50,000 in technical assistance to strengthen capacity-building through training for the teams involved in the implementation of Casal TV.
The financing agreement was signed at COFIDES headquarters by COFIDES Chairwoman and Chief Executive Officer Ángela Pérez and Suara Cooperativa Co-General Director Laura Peracaula, in the presence of Elena Rodríguez, Secretary General for Inclusion.
Elena Rodríguez, Secretary General for Inclusion, stated: "This operation reflects one of the key priorities of inclusion policies: ensuring that people can pursue their life projects with the appropriate support at every stage. Through this financing, the FIS helps scale initiatives that combine technology, professional support and personalised care to improve quality of life and strengthen the inclusion of those in the most vulnerable situations."
Ángela Pérez, Chairwoman and Chief Executive Officer of COFIDES, highlighted that "this transaction reinforces the role of the Social Impact Fund as an instrument that mobilises resources towards projects combining financial sustainability with measurable impact on people's lives." She added that "through this financing, COFIDES is supporting a leading social economy organisation that provides innovative solutions to major societal challenges such as unwanted loneliness, population ageing and the care of vulnerable children."
Laura Peracaula, Co-General Director of Suara Cooperativa, said: "Suara's Governing Board has made a firm commitment to place its trust in COFIDES, a public-private fund manager, and in the Social Impact Fund, as this initiative is fully aligned with the values and purpose of our cooperative."
ABOUT THE SOCIAL IMPACT FUND
The Social Impact Fund (FIS) was established by the Spanish Government through the addendum to the Recovery, Transformation and Resilience Plan (PRTR) and is financed by the NextGenerationEU instrument. Attached to the Ministry of Inclusion, Social Security and Migration, it is a public financial instrument designed to strengthen Spain's impact ecosystem by supporting investment projects undertaken by companies and other organisations that generate a positive and measurable social and/or environmental impact.
The Fund has an endowment of €400 million and provides financial support to projects that are financially sustainable and contribute to addressing social and environmental challenges that remain insufficiently met, while also mobilising additional private investment.
ABOUT SUARA COOPERATIVA
Suara Cooperativa is a non-profit social initiative cooperative founded in Barcelona in 2008. It provides social, educational and social healthcare services with the aim of improving quality of life, promoting personal autonomy and fostering social inclusion. Its activities focus primarily on three areas: services for older adults, childcare and youth services, and services for vulnerable adults.
ABOUT COFIDES
COFIDES is a state-owned company that manages Spanish government financial instruments, as well as its own resources and funds from third-party institutions, pursuing several objectives: supporting the internationalisation of the Spanish economy, attracting foreign investment into strategic sectors in Spain, promoting the impact economy in Spain, and contributing to the development of the countries in which it invests.
In addition to the Spanish State, which holds a majority stake, COFIDES' shareholders include Banco Santander, Banco Bilbao Vizcaya Argentaria (BBVA), Banco Sabadell and CAF – Development Bank of Latin America and the Caribbean.
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