ESF supports bank lending for social enterprises in Poland
The ESF in Poland is supporting the first national initiative for ‘financial engineering’ in the social economy sector. The Gospodarstwa Krajowego Bank is managing PLN 30 million (EUR 7.1 million) which will be deployed as loans to support organisations such as social co-operatives and NGOs. This pilot project will ‘test the water’ by evaluating the demand for low-interest, low-cost loans, and micro-loans, from the social sector. It will also use an existing social sector support network to reach out to its potential customer base.