Social and economic innovation is key to reduce poverty, unemployment and inequalities that are eroding the social cohesion in in the countries on the southern and eastern shores of the Mediterranean. Through its activities CoopMed aims to:
- Foster job creation and economic opportunities through the support of local financial actors
- Support initiatives for economic development promoted by the local civil society
- Fight climate change by promoting green and innovative initiatives
- Promote all forms of social economy initiatives: cooperatives, social, green and micro entrepreneurship
Created by and for actors of the social economy, CoopMed aims at sharing its shareholder’s expertise and know-how. Each investment decision is approved by the Board of Directors, composed of shareholders and bondholder’s representatives.
CoopMed establishes strong social performance policy both through client social performance measurement and monitoring and through a dedicated, but separate, technical assistance facility. The purpose of the TA facility is to reinforce clients’ capacities to better achieve their social mission and thereby positively impacting the lives of final beneficiaries.
Size
EUR 17.3 M
Type of services
Financial Support: subordinated and senior loans in local currency (in EUR/USD if possible).
Technical Assistance: Capacity building, Financial engineering, SPM and impact evaluation
Targeted institutions
MFIs, local banks and mutual companies to finance the social economy sector, especially through the financing of cooperatives and social businesses
Area of intervention
Countries on the southern and eastern shores of the Mediterranean. Lybia and Syria will integrate the zone of eligibility once international sanctions will be lifted.