4th STAKEHOLDER MEETING HELD IN ROMANIA
On February 12, 2025, OIR PECU BI hosted the fourth stakeholder event in Romania as part of the MICROFUTURE project, an ambitious initiative aimed at strengthening microfinance as a key tool for social economy and social inclusion. The online event brought together microfinance experts, representatives from the public and private sectors, social entrepreneurs, and non-profit organizations, providing a platform for discussions on best practices in the field and the future of public policies supporting the social economy in Romania.
Event Objective: Romania on the Map of Best Practices in Microfinance
The main goal of the event was to analyze and strengthen the social economy structures in Romania, offering participants the opportunity to explore innovative solutions and successful examples from across Europe. The event facilitated interregional learning, a key pillar of the MICROFUTURE project, funded by Interreg Europe, and highlighted the importance of optimizing microfinance tools to meet the new market needs.
Key Topics Discussed
1. Current Status of the MICROFUTURE Project
The event included a detailed presentation on the progress of the project, focusing on improving public policies for microfinance and the social economy. The project, running from March 2023 to May 2027, brings together six partners from five countries, including Romania, Italy, Slovenia, Sweden, and France.
2. European Best Practices in Microfinance and Social Economy
The event provided a platform for exchanging best practices from Romania and other partner countries in the project. Some notable examples presented included:
- AFIN IFN & SFA Integrated Model (Romania) – a system that combines microcredit financing with consultancy services for social entrepreneurs.
- ASSOC Social Restaurant (Romania) – a successful initiative demonstrating the economic sustainability of social enterprises.
- National Microcredit Guarantee Fund (Italy) – a financial support model for microenterprises and social businesses.
- MCPA (France) – a digital application facilitating access to microcredits for people in vulnerable situations.
- AGRO FI MICRO (Slovenia) – a microfinance program for young farmers, requiring no guarantees.
These examples were analyzed in relation to the specifics of the social economy in Romania, and participants discussed the possibility of replicating and adapting them at the national level.
3. Methods for Measuring Social Impact
A key moment of the event was the presentation by Alessandra Cavallo, a representative of the Yunus Foundation Italy, an advisory partner in the project. She spoke about methods for measuring social impact, emphasizing Social Return on Investment (SROI) and Social Impact Assessment (SIA), two approaches used in Italy to evaluate the effectiveness of interventions in the social sector.
Participants were invited to propose relevant performance indicators for Romania's social economy, and the session turned into an interactive discussion on how microfinance impact can be measured and optimized.
Examples of performance indicators:
- Impact measurement - yearly
- Community development indicators: quantitative and qualitative
- Number of final beneficiaries, Number of new jobs created
- Reinvested profit in social mission
- New Policies brought into legislation
- Democratic governance, member engagement
- Market changes
- The average monthly value of the basket for minimum needed purchases
What’s Next for MICROFUTURE in Romania?
In conclusion, the organizers reaffirmed their commitment to continuing dialogue with stakeholders and strengthening public policies dedicated to the social economy. The next steps include:
- Organizing new interregional learning sessions and bilateral visits to exchange best practices;
- Monitoring the impact of microfinance initiatives and adjusting support strategies based on results.
The MICROFUTURE project remains an essential catalyst for developing a favorable framework for microfinance and social inclusion in Romania, demonstrating that the social economy can become a strong pillar for sustainable socio-economic recovery.