EPSI – Empowering Partnership for Social Innovation

Project Summary

MFC is a consortium member of EPSI, ESF-funded project focused on strengthening the social finance market in Bulgaria. The project addresses a key challenge in the country: limited access to appropriate financing for social enterprises, particularly solutions that combine financial instruments with tailored nonfinancial support.‑financial support.

Within the partnership, MFC brings its long‑standing experience as an international umbrella organisation for the microfinance and social finance sector. We support transfer of tested European practices to the Bulgarian context and facilitate knowledge exchange across borders.

The project places strong emphasis on co‑creation with stakeholders, investor engagement, capacity building for social entrepreneurs, and partnership development. Key activities include improving investors’ understanding of social impact, strengthening investment readiness of social enterprises, and contributing to the design of innovative social finance instruments tailored to local needs.

Duration Period: February 2025- January 2027 

Project geographical focus: Bulgaria

Project Objectives

  • Increase understanding of social impact among investors in Bulgaria and support the integration of social values into investment decision‑making
  • Strengthen the mindset and growth skills of social entrepreneurs in order to improve their investment readiness
  • Create a clear pathway for new social finance instruments aligned with the needs of Bulgarian social enterprises and the expectations of investors
  • Pilot an innovative blended financial instrument combining financial and non‑financial support for social enterprises
  • Support the creation of a business angel investment network dedicated to social enterprises in Bulgaria
  • Foster favourable conditions for long‑term ecosystem development, including improved cooperation among stakeholders and contributions to a supportive regulatory framework

Project Partners

  • BCause Foundation – a leading Bulgarian organisation for capacity building of non‑profits and social entrepreneurs, with extensive experience in accelerator and academy programmes
  • SIS Credit – a Bulgarian microfinance institution with strong focus on financing social enterprises and entrepreneurs from vulnerable groups
  • Fund Manager of Financial Instruments in Bulgaria (FMFIB) –institution responsible for structuring and managing EU‑ and nationally funded financial instruments
  • Pulse (France) – a leading organisation delivering investment‑readiness programmes for social enterprises
  • Banca Etica (Italy) – a pioneering ethical bank and impact investor
  • Impact Business Angels (IBA) – the French impact business angels network

Related Sources