The new Working Group on Financial Access and Support (TWGFAS) for Social and Solidarity Economy (SSE) entities met on 4 September in what was the first meeting of the body promoted by the United Nations Inter-Agency Task Force on Social and Solidarity Economy (UNTFSSE), aimed at improving the promotion of Social Economy entities around the world.
The new Task Force has been created in the framework of the UN Resolution on SSE for Sustainable Development (A/RES/77/281), adopted a year and a half ago. This resolution mandates international cooperation in the promotion of the Social Economy, as well as encourages multilateral and regional financial institutions to support the entities of the sector through financial access mechanisms adapted to their specific characteristics and needs.
Among the main participants of the Meeting were representatives of the UNTFSSE, the United Nations Conference on Trade and Development (UNCTAD), the International Labour Organization (ILO), as well as Catalyst2030, CIRIEC, DIESIS, ESSFI, RIPESS, Social Economy Europe (SEE), which was represented by its member FEBEA, the governments of France and Quebec (Canada), and other stakeholders.
They validated the group’s Terms of Reference and explored practical mechanisms to support the ecosystem and improve financial access for SSE entities.
An important step towards an inclusive financial ecosystem
At this first meeting, Lola Blanc (UNTFSSE) was in charge of welcoming the participants and presenting the research papers created by author Claude Dorion (ESSFI), which highlighted the scale and challenges of the SSE financing ecosystem in Quebec; Yvon Poirier (RIPESS) traced the historical development of SSE financing initiatives globally; and Alexandre Laurent (Government of France) focused on French mechanisms, such as the Solidarity Savings model, which channels citizens’ savings into social enterprises.
The other participants, including Samuel Barco (DIESIS), Sandra Moreno (RIPESS), Daniel Sorrosal (SEE/FEBEA) and Craig Churchill (ILO), shared their experience and discussed their expectations for the group.
Conclusions and inputs to prepare for a next meeting
Chantal Line Carpentier, representing the UN, concluded the meeting by mentioning three key action points: first, mapping existing financial models and mechanisms for SSE entities and sharing good practices; second, engaging multilateral development banks to adapt financial instruments and the ecosystem for SSE entities; and finally, elaborating inputs for the next UN Conference on Financing for Development (FFD) in 2025.
