Thanks to the i-Run by BFC financing solution, Emmanuel Lear was able to change his career path, retrain, and open the very first open-air karting track in St Pierre, La Réunion. And the cherry on top: Mr. Lear’s go-kart business uses thermal and electric karts.
The fi‑compass Blog
Stories of how financial instruments have an impact on the ground
The financial backing of the EAFRD risk-sharing financial instrument has helped Valentin Verzea, a former banker, make his farm in Southern Romania profitable.
With 13.5 hectares in production, he was able to deliver 90 tons of premium raspberries in 2022 to major supermarket chains in Romania.
Thanks to a EUR 1.25 million equity investment from ESSOR PME La Réunion, HUB2, a Reunionese based SME was able to develop an Application Programming Interface enabling interoperability between mobile money wallets in Western Africa and answer the huge demand for more connectivity in mobile banking and banking systems in Africa.
Thanks to financial instruments financed by the European Social Fund (ESF) Bank Gospodarstwa Krajowego (BGK) — the Polish Development Bank — supports the development of cooperatives, foundations, associations and other social economy entities created by people at risk of exclusion and employing individuals from disadvantaged groups: seniors, persons with disability or at risk of exclusion.
Over the past four years, the Sustainable Cities Fund has financed more than 70 projects in Bulgaria thanks to ERDF financial instruments. From the restoration of schools, markets and theatres, to the renovation of parks, the Fund is helping cities thrive and become more sustainable. The Sustainable Cities Fund’s mission is to foster economic and urban development in Bulgaria, making the most of EU and National resources through financial instruments.
Through ESF and ERDF financial instruments, INVEGA, the Lithuanian National Promotional Institution wants to facilitate access to finance for innovative businesses and social enterprises.
The Grössling Spa, one of Bratislava’s 19th century iconic buildings, will be restored to its original function, and will share its premises with the City Library thanks to the support of ERDF financial instruments managed by Slovak Investment Holding (SIH), Slovakia’s National Promotional Institution.
With more than 24 billion pairs of shoes made each year using mainly oil derivatives and leather, footwear has an undeniably negative impact on the environment. Croatian footwear company MIRET wants to change that! Designing shoes to have the lowest possible impact on the environment, these bio-based sneakers are empowering consumers to choose design, durability and comfort, but most importantly sustainability.
Since 2015, Breizh Up is having a positive impact on Brittany’s economy, using ERDF backed financial instruments to stimulate and accelerate investment in innovative companies in France. Among Breizh Up’s diverse portfolio is EOLINK, a company implementing innovative and cost-effective floating wind farms.
The ERDF powered IFRRU 2020 financial instrument focuses on urban rehabilitation and revitalisation. By the end of 2022, 440 buildings were renovated thanks to the financial support of IFRRU, generating new jobs and making Portuguese cities more green, sustainable and energy efficient.
Through ERDF and ESF financial instruments, Národní rozvojová banka (NRB) — the Czech National Promotional Bank — stimulates investments in energy efficiency, innovative enterprises, SMEs and social entrepreneurs.
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