European Investment Fund and AFIN IFN Advance Financing Access for Romania’s Social Economy Sector

European Investment Fund and AFIN IFN Advance Financing Access for Romania’s Social Economy Sector

(IN BRIEF) The European Investment Fund has signed a €480,000 subordinated loan agreement with Romanian non-bank lender AFIN IFN to strengthen financing for social enterprises, NGOs and cooperatives across Romania. Supported by the InvestEU programme, the 10-year agreement aims to reinforce AFIN IFN’s institutional capacity and expand access to inclusive financing solutions for the country’s growing social economy sector.

(PRESS RELEASE) LUXEMBOURG, 20-May-2026 — /EuropaWire/ — The European Investment Fund has signed a financing agreement with Romanian non-bank lender AFIN IFN SA aimed at strengthening access to funding for social enterprises, cooperatives and non-governmental organisations throughout Romania.

Under the agreement, the EIF will provide a subordinated loan of 2.5 million Romanian lei, equivalent to approximately €480,000, to AFIN IFN. The financing is intended to reinforce the institution’s capital base and increase its capacity to support organisations operating within Romania’s social economy sector.

AFIN IFN is the first non-bank financial institution in Romania dedicated exclusively to financing social economy activities. The organisation focuses on providing tailored financial services to social enterprises, NGOs and cooperatives that often face difficulties obtaining financing from traditional banking institutions despite increasing demand for investment and working capital.

The 10-year agreement is supported through the InvestEU programme, the European Union initiative designed to mobilise public and private investment in support of sustainable and inclusive growth across Europe.

More specifically, the financing operation is backed by the InvestEU Capacity Building Investment instrument, which supports financial intermediaries providing both financial and non-financial services to microenterprises and social entrepreneurs across the European market.

Cristina Dumitrescu, Head of Inclusive Finance at the European Investment Fund, said the agreement will help expand financing opportunities for Romania’s social economy sector while contributing to the development of a more resilient and inclusive economy.

Felicia Relenschi, Chief Executive Officer of AFIN IFN, described the transaction as an important step in the institution’s development and said the partnership with the EIF strengthens the organisation’s financial resilience while supporting its objective of building sustainable financing solutions dedicated to social economy initiatives.

Based in Iași in northeastern Romania, AFIN IFN has focused its lending activities on supporting organisations that generate social impact through business and community initiatives. Since beginning operations in 2023, the institution has issued more than 130 loans with a combined value of approximately €2.5 million across Romania.

The agreement also reflects broader European efforts to strengthen inclusive finance mechanisms and expand support for social entrepreneurship and impact-driven organisations that contribute to employment, community development and economic inclusion.

The European Investment Fund is part of the European Investment Bank Group and specialises in improving access to finance for small and medium-sized businesses and startups across Europe through guarantees, equity investments and partnerships with financial institutions.

Background information

The EIB Group  

The European Investment Bank (ElB) Group is the financing arm of the European Union, owned by the 27 Member States, and one of the largest multilateral development banks in the world. In 2025, the EIB Group signed €100 billion of new financing and advisory services for over 870 high-impact projects in eight core priorities that support EU policy objectives: climate action and the environment, digitalisation and technological innovation, security and defence, territorial cohesion, agriculture and the bioeconomy, social infrastructure, strong global partnerships and the savings and investment union. Beyond long-term loans for large infrastructures, the EIB Group crowds-in private investment for high-risk innovative projects and businesses, with a growing role in Europe’s markets for venture debt, venture capital, guarantees and securitisations.

The European Investment Fund (EIF) is the subsidiary of the EIB Group specialised in providing guarantees and equity to improve access to finance for small and medium size businesses and startups across Europe. Acting as an anchor investor, through its extensive network of partnering banks and investment funds, the EIF mobilizes private investment and nurtures the ecosystem of venture capital funds to support innovative European entrepreneurs.

In 2023, the EIF together with six member states (France, Germany, Italy, Spain, Belgium and the Netherlands) launched the European Tech Champions Initiative, a fund of funds to scale-up innovative startups. This initiative has already enabled the creation of 12 European venture capital mega-funds and scaled up 38 companies, including 11 unicorns (with more than €1 billion in capital).

Photos of the EIB Group’s spokespeople and headquarters, logo files and video B-roll for media use are available here.

InvestEU

The InvestEU programme provides the EU with long-term funding by leveraging substantial private and public funds in support of a sustainable recovery. It also helps to crowd in private investment for the EU’s strategic priorities such as the European Green Deal and the digital transition. InvestEU brings all EU financial instruments previously available for supporting investments within the European Union together under one roof, making funding for investment projects in Europe simpler, more efficient and more flexible. The programme consists of three components: the InvestEU Fund, the InvestEU Advisory Hub, and the InvestEU Portal. The InvestEU Fund is deployed through implementing partners that will invest in projects using the EU budget guarantee of €26.2 billion. The entire budget guarantee will back the investment projects of the implementing partners, increase their risk-bearing capacity and thus mobilise at least €372 billion in additional investment.

About AFIN IFN SA

AFIN IFN SA is the first Romanian-capital non-banking financial institution dedicated exclusively to the social economy sector. A certified social enterprise itself, AFIN reinvests 90% of its profits into social purposes and operates in partnership with Social Finance Association and ADV Romania. AFIN IFN supports NGOs, cooperatives and social enterprises through financing and dedicated financial services tailored to the needs of the social economy ecosystem.

Media Contact:

Clara Wanjek-Bauer
EIBG Press
c.wanjek-bauer@ext.eib.org
+43 664 5608656
www.eib.org/press

Press Office

press@eib.org
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SOURCE: European Investment Fund