• It will allow access to financing sources under advantageous conditions to existing Social Economy companies in Spain.
• It was signed by the CEO of Fiare Banca Etica and the president of CEPES at the headquarters of this Confederation.
Madrid, July 24, 2019.- The Spanish Business Confederation of the Social Economy (CEPES) has signed a commercial and financial collaboration agreement with Fiare Banca Etica, the ethical finance cooperative entity, in order to facilitate credit and services financial to the companies of the Social Economy.
This agreement, sealed today at the headquarters of CEPES by the vice president of Fiare Banca Etica, Peru Sasia , and the president of CEPES, Juan Antonio Pedreño , means an important step for both organizations and will allow social economy companies to generate a social impact and positive environmental, with the support of this entity that knows its needs and shares its values.
Sasia said that “the ecosystem of the Social and Solidarity Economy means finding ourselves with realities that we know well and that are among our financing priorities. It also represents a natural space for collaboration to influence state and European policies. Finally, it is a place to find many people and organizations that understand the value of our project and support it. ”
For his part, Pedreño stressed “the importance of this agreement, which will allow companies in our associative fabric to access financing sources under favorable conditions, with which to generate economic and social cohesion, as well as stable and quality employment, characteristics all of them that define the Social Economy ”.
CEPES represents the interests of more 42,140 Social Economy companies, which represent 12.5% of employment and 10% of Spanish GDP. For its part, Fiare Banca Etica has among its objectives to provide financial services to entities that work with a clear vocation of social transformation, and therefore this agreement is framed in the objectives of the entity's foundations of putting itself at the service of the social economy, the third sector and new forms of social innovation.
Fiare Banca Etica financed companies with a high social and environmental impact with 10 million euros. 70% has been invested in the areas of housing, culture, education and socio-labor insertion, which is the main area of funding request. However, more and more entities linked to renewable energy and environmental sustainability want to work with the bank.
Both organizations work at the state level in different networks and at European level in order to influence the direction of economic policies, as is the case of CEPES in 'Social Economy Europe' and Fiare Banca Etica through the Global Alliance for Bankig on Values (GABV) and the Federation of European Ethical and Alternative Banks (FEBEA).
About CEPES
The Spanish Business Confederation of the Social Economy The Spanish Business Confederation of the Social Economy (CEPES) is the highest representative institution of the Social Economy in Spain, becoming a platform for institutional dialogue with the public authorities. Its 25 partners represent the interests of more than 42,140 companies, representing 12.5% of employment and with a turnover of around 10% of GDP. Its partners, with more than 200 regional structures, are national or regional organizations and business groups, which represent the interests of Cooperatives, Labor Societies, Mutualities, Insertion Companies, Special Employment Centers, Associations of the disability sector and Fishermen's Guilds .
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About Fiare Ethical Banking
Fiare Banca Etica is a cooperative bank dedicated to ethical finance at European level. His work is based on collecting savings from entities and responsible citizens to finance projects with a high social value linked to the social and solidarity economy. The cooperative is the result of the commitment of many people and organizations inspired by the principles of ethical finance such as transparency, participation and efficiency at the service of an economic democracy project. It currently has a capital stock of more than € 71M, more than 40,000 members and a total of € 960,977,000 in credit and more than € 1,590,644,000 in savings . It is part of the Global Alliance for Banking on Values and the European Federation of Ethical and Alternative Banks.
