Building the Social Investment Industry in Central and Eastern Europe: The Case of Romania


Despite the success and growth of social enterprises in the last decade and the increased recognition on the part of both the public and private sectors of their importance, there is still very little available capital for these companies to grow and thrive.

In order to understand this phenomenon, NESsT set out to conduct a region-wide study assessing the Romanian and Central and Eastern Europe (CEE) state of social enterprise financing.

The objectives of the research were to:

  1. Assess the loan products currently available to social enterprises in Romania and CEE
  2. Make recommendations on new loans and other types of investment instruments needed by these social enterprises to align with latest worldwide trends
  3. Identify partnerships and a call to action needed to implement these recommendations

The findings indicate that there is an urgent need to close this capital gap and to develop financial instruments designed to meet the patient capital needs of social enterprises. Different stakeholders have expressed their interest to work together to implement the study’s recommendations and to leverage the commitment of the European Union (EU) in this area, as well as to learn from global best practices.

NESsT would like to thank the Swiss-Romanian Cooperation Programme for generously supporting the development of this publication.

ISBN: 978-1-930363-45-8

(52 pages; 176 mm x 250 mm)

Available online in eBook format in the following languages:
English, Română

For more information, contact us at: nesst[at]