Publishes second impact assessment of social banking activities
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>> Read the Erste Social Banking Infographic
>> Consult Erste Group Social Banking Impact report 2018/2019
BRUSSELS, 11 December 2019 – Austrian ESBG member Erste Group has recently published its second impact assessment of social banking activities, a report that measures the impact of social banking efforts on local communities.
Erste wants to live up to its conviction that growth must be inclusive. For this reason, Erste's Social Banking programme collaborates closely with local partners, offering a set of measures ranging from access to finance up to mentoring and training. This collaboration ensures that funding translates into sustainable and measurable social impact, such as the creation of 15,000 new jobs and the preservation of 30,000 jobs across the Central and Eastern European region.
“One of the most difficult tasks for micro-businesses is raising finances to get their ideas up and running. For women entrepreneurs the hurdle is even higher, as they need to battle against gender bias, too. With our help, they can start and successfully expand a generation café in Vienna, a sheep farm in Romania or organic baby clothing business in Croatia,” explains Peter Surek, head of Erste's Social Banking Department.
He adds: “Many NGOs and social entrepreneurs have poor access to financing as their business models are per definition not profit-oriented and thus unattractive to mainstream banks. They have scant support from the state and difficulties in accessing EU subsidies. The development of the civil society is limited when NGOs and social entrepreneurs, who deal with some of the most challenging issues in our society, lack adequate funding. To meet their needs, we provide working capital loans, bridging loans and investment facility loans.”