The Social Impact Fund (FIS), managed by COFIDES, will contribute to the employment integration of migrant women through a €1.2 million loan to the NGO Treball Solidari. This transaction represents the FIS’s first financing of a non-governmental organization, marking a milestone in the fund’s strategy and reinforcing its commitment to the third sector and the social economy.
The financing will enable the NGO to expand its Confía program, which provides social microcredits that promote self-employment for women entrepreneurs in vulnerable situations, fostering their financial inclusion in an environment where access to financing for them is limited and market failures exist. The goal is to strengthen the capacity of migrant women to achieve greater economic autonomy by creating small businesses, thus improving social integration and promoting the reduction of inequality. Since its inception in 2011, Treball Solidari has provided €3.5 million in funding to nearly 1,000 women across more than 2,000 operations.
In addition, COFIDES has also approved technical assistance of €150,000, which will allow Treball Solidari to hire external advisory services to provide training, support, and impact measurement.
Ángela Pérez, Chairperson and CEO of COFIDES, stated, “This is the first transaction through which an NGO receives financing from the Social Impact Fund (FIS). This decision reflects our commitment to expanding the FIS’s reach within the social economy and supporting third-sector entities that generate a direct and positive impact on society. With this investment, we aim to contribute to the financial and labor inclusion of migrant women, convinced that collaboration with organizations like Treball Solidari is key to advancing toward a more inclusive society with more opportunities for all.”
Toni Sierra, Director of Treball Solidari, added, “It is both a satisfaction and a reality for Treball Solidari to have the direct participation of the Social Impact Fund in our CONFÍA program, which since 2012 has supported small ventures excluded from the traditional financial system due to high risk and low profitability, but which are crucial for the social and economic development of many people living in vulnerable situations in our country.”
ABOUT THE SOCIAL IMPACT FUND
The FIS is a fund created by the Government through the addendum to the Recovery, Transformation, and Resilience Plan (PRTR) and is financed with resources from the NextGenerationEU instrument. Attached to the Ministry of Inclusion, Social Security, and Migration, it is a public financial instrument aimed at strengthening the impact ecosystem in Spain by supporting investment projects carried out by companies and other entities that generate a positive and measurable social and/or environmental impact.
This fund has a total endowment of €400 million and provides financial support to projects that are financially sustainable and contribute to addressing social and environmental challenges that are insufficiently met, while also promoting the mobilization of additional private resources.
ABOUT TREBALL SOLIDARI
Treball Solidari is a non-profit organization based in Mallorca with offices in Madrid, Barcelona, Valencia, Castellón, Valladolid, and Cantabria, founded in 2000. It works to create employment opportunities for people in vulnerable situations both in Global South countries and in Spain. To achieve this, it implements international cooperation projects in Central America and West Africa, as well as labor insertion programs for inclusive entrepreneurship within the country.
ABOUT COFIDES
COFIDES is a state-owned commercial company that manages public financial resources, as well as its own and third-party funds with various objectives: promoting the internationalization of the Spanish economy, attracting foreign investment to strategic sectors in Spain, promoting the impact economy in Spain, and contributing to the development of the countries in which it invests. Its shareholders, in addition to the State, which holds a majority stake, include Banco Santander, Banco Bilbao Vizcaya Argentaria (BBVA), Banco Sabadell, and CAF–Development Bank of Latin America.
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