Patria Credit IFN has signed a grant agreement with the Council of Europe Development Bank (CEB) worth 1.83 million euros for the implementation of the project "Seeds of Change - Building Viable Businesses for Roma Communities and Small Farmers".
According to a press release of the IFN, this is the first grant signed by CEB under the InvestEU Blending Facility for Microfinance programme, financed by the European Union through the European Social Fund Plus (ESF+), confirming Patria Credit's role as a reference microfinance institution in supporting entrepreneurs in Romania.
Roma communities face systemic barriers in access to education, financing, with many entrepreneurs operating in the informal economy. In their turn, small Romanian farmers are also vulnerable to climate change, market volatility and European requirements, with limited access to technology, financing and retail networks, the press release states.
The Seeds of Change project will be carried out over 2025-2028, and will directly support more than 2,000 beneficiaries through interventions structured in dedicated programmes: training, individual coaching for setting up or developing a business; support, financial education and facilitating access to financing; access to digital tools, European certifications and connecting beneficiaries to retail networks and value chains.
The implementation will be carried out by Patria Credit, with the support of the REDI Association - Roma Entrepreneurship Development Initiative, a traditional and trusted partner of the institution, with experience in supporting Roma entrepreneurship in Romania and Eastern Europe.
The project is supported by the European Union under the InvestEU Fund and the ESF+ Programme, focused on employment, social inclusion and sustainable economic development.
Specialising in financing farmers, Patria Credit is a member of the European Microfinance Network (EMN) and the Microfinance Centre (MCC) and is the first non-bank financial institution dedicated to microfinance in Romania, with more than 20 years of experience and over 17,000 financed clients.
Comentează