National Social Entrepreneurship Fund, Poland
SOCIAL
In 2016, the Bank Gospodarstwa Krajowego (BGK), in collaboration with Poland’s Ministry of Family and Social Policy (MRiPS) was appointed manager of the National Social Entrepreneurship Fund under Measure 2.9 of the Operational Programme Knowledge Education Development. This initiative provides preferential loans to social economy entities (SEEs) and offers the option of receiving partial interest rate subsidies to increase the number of SEEs that use repayable forms of financing (e.g. loans). Approximately PLN 143 million has been allocated to the project by MRiPS, with an additional PLN 16 million coming from participating financial intermediaries.
The National Social Entrepreneurship Fund aims to strengthen the social economy ecosystem by supporting the growth of social enterprises, increasing their income and allowing them to create sustainable jobs. It also improves the financial management capabilities of social economy entities, helping them to become more competitive in key goods and services markets. The Fund enables entities to expand and diversify their services in an evolving market.
The National Social Entrepreneurship Fund’s key activities include providing preferential loans coupled with eligibility for partial interest rate subsidies, which are designed to lower the financial barriers to accessing credit. To mitigate lender risk and facilitate access, BGK also administers a counter-guarantee facility for financial intermediaries such as TISE (Towarzystwo Inicjatyw Społeczno‑Ekonomicznych) and FRW (Fundusz Regionu Wałbrzyskiego). Implementation of the Fund is monitored by a Social Economy Taskforce, comprising government ministries, social economy stakeholders, banking sector representatives, and certified intermediaries.
The Polish National Fund for Social Entrepreneurship was established during the 2014-20 EU programming period, with an initial budget of EUR 37 million. By September 2020, a total of 849 loans had been distributed, contributing to the creation of 1 047 new jobs and demonstrating strong uptake, with EUR 21.8 million of allocated funds. Loans from the National Fund for Social Entrepreneurship were particularly popular in northern Poland, where social economy entities submitted applications covering 75% of accessible funds by November 2020.
BGK. (n.d.). Support for social economy entities. Retrieved from https://www.en.bgk.pl/programmes/support-for-social-economy-entities/
European Commission and European Investment Bank. (2021, April 6). Financing the Social Economy in Poland. Retrieved from https://www.fi-compass.eu/library/case-studies/financing-social-economy-poland
European Commission and European Investment Bank. (2021, January 27). Poland's National Fund for Social Entrepreneurship helps social economy enterprises in difficult times. Retrieved from https://www.fi-compass.eu/stories/polands-national-fund-social-entrepreneurship-helps-social-economy-enterprises-difficult
European Commission and European Investment Bank. (2017). Social entrepreneurship and social inclusion: ‘National Fund for Social Entrepreneurship, Poland". Retrieved from https://www.fi-compass.eu/sites/default/files/publications/FI-Campus-DAY1-CASE-STUDY-Social-entrepr_A-Dmitruk_A-Waszkiewicz.pdf