SEN PEER REVIEW Access to finance Introduction Warsaw, 19-20 May, 2016 Piotr Stronkowski

Objectives of the peer-review Support the dissemination of good practises, ideas, experiences Enhance better understanding of the nature of new solutions Support the transfer of good practises to other countries Discuss the policy implications of good practises, particularly for the ESF

Three areas of the peer review Access to finance Ecosystem for innovation and innovative instruments Measurement of social value added Pilot loan fund for social enterprises

Two main reasons for searching for new solutions Growing constraints of public finance Concentration on results

Investing in social innovation, particularly in Social Impact Bonds Development and strengthening of the ecosystem of social and financial innovation Who should be involved (and the role of the government)? How to support the development of such systems? How the ecosystem can support new, innovative solutions? What role the ESF can play? Implementation of new financial instruments - SIBs Who should be responsible? Selection of areas of intervention Detailed mechanism of implementation Challenges that need to be taken into account Role of the ESF

TOOLS AND USERS OF MEASURING SOCIAL ADDED VALUE Focus on needs of financial institutions and institutions distributing funds for tools of measuring social added value Measurement of social value-added ex-ante or measurement of the impact of funds (ex-post) How to combine comparability and adjustment of tools to specific types of social enterprises? Focus on the practical implementation of the tools (a proper balance between relevance and cost of their implementation) The role of all actors (social enterprises, financial institutions, governments, EU level) Distribution of costs and benefits of implementation of such tools Support for financial institutions and social enterprises

THE PILOT LOAN FUND FINANCED FROM THE EUROPEAN SOCIAL FUND IN POLAND The process of learning of all actors – from the small group of people engaged to the relatively complex system of financial instruments addressed to social enterprises The shift in the policy approach of the ESF – from the grants-oriented toward openness for financial instruments Critical importance of implementation details: who, how, when, for whom etc. Low capacity of social enterprises – importance of the quality and relevance of support system

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