From 8 to 10 December 2025, a conference entitled “The Social Economy as a Driver of Sustainable Development” was held in Sofia, organised by the Ministry of Labour and Social Policy. The event aimed to present the results achieved through the implementation of a project focused on the development of the social economy and to outline the policy vision for the future development of this sector in Bulgaria and the European Union.
The forum brought together representatives of European and national institutions, local authorities, social enterprises, non-governmental organisations, academic bodies and international partners. The three-day programme included discussions on key topics such as strategic policies, the role of municipalities, international experience, partnerships and future instruments to support the social economy.
At the invitation of the organisers, Biser Petkov, Executive Director and Member of the Management Board of the Fund of Funds (FoF), took part in the panel discussion “Social Entrepreneurship – Innovation, Financing and Sustainability”. The panel focused on support for innovative social enterprises, access to finance, the role of institutions and the need for sustainable solutions.
The discussion addressed key issues related to the development of social enterprises, including how institutions can encourage social innovation; which financial and non-financial mechanisms support social entrepreneurs; the challenges to the sustainability of the sector; and the role of partnerships between public, private and civil society organisations.
During his participation in the panel, Biser Petkov emphasised the role of financial instruments as a sustainable and effective mechanism for supporting social enterprises within the new programming period 2021–2027. He highlighted that public funding, primarily provided through European funds, remains a key driver of the social economy, while the financial instruments of the Fund of Funds have established themselves as a practical tool for promoting entrepreneurship with social added value. In this context, he recalled the conclusions of the EPSI project, according to which the financial instruments of the Fund of Funds are among the few in Bulgaria that effectively respond to the needs of social entrepreneurs, providing access to finance under more favourable conditions, such as lower interest rates, longer repayment periods, the possibility of grace periods and reduced collateral requirements.
The Executive Director also highlighted the sustainability of the support provided. Following the successful investment of resources under the Operational Programme “Human Resources Development” 2014–2020, the financial intermediaries of the Fund of Funds are already reinvesting recovered funds in new projects targeting start-ups and social enterprises, including those involving vulnerable groups such as the long-term unemployed, young people and persons with disabilities. He noted that negotiations are forthcoming with the Managing Authority of the Programme “Human Resources Development” 2021–2027 regarding a mandate for an investment resource of EUR 33 million, allocated across debt and equity instruments aimed at stimulating job creation and social innovation. In conclusion, he stressed that, alongside financial support, actors in the social economy also require non-financial assistance such as mentoring and expert consultancy, which under the current programming period is envisaged to be financed through financial instruments under the Human Resources Development Programme, to be offered together with grant support within a single operation.
