The Brazilian Social Finance Task Force – FTFS, of which Sitawi Finance for Good is part of the executive board together with the Instituto de Cidadania Empresarial – ICE, launched on February 21, the report “Advancing recommendations and reflections to strengthen Social Finance and Impact Businesses in Brazil“. The study mapped more than 45 initiatives under development in response to the 15 priority recommendations, organized by the Task Force for expanding and strengthening the field of social finance in the country.
“The report is very important for us to consolidate the small and large advances in the field and have a vision of complementarity of actions. In addition to identifying the challenges, it provides ecosystem actors with a reflection on how they can contribute to this agenda”, commented Leonardo Letelier, CEO of Sitawi.
The recommendations face the sector's main challenges and aim to strengthen it, such as expanding the supply of capital, increasing the number of impact businesses, strengthening intermediary organizations and promoting a favorable macroenvironment.
?We want to show that the effectiveness of implementing the recommendations depends on the engagement of different actors and complementary projects. There are already several milestones to be celebrated and disseminated, emphasizes Célia Cruz, Executive Director of the Instituto de Cidadania Empresarial – ICE, which makes up the Executive Board of the Task Force alongside Sitawi.
Access the report here.
About the Brazilian Social Finance Task Force
The Social Finance Task Force is a group that brings together representatives from different sectors with the aim of seeking systemic solutions to attract more capital to finance innovations that combine social impact and financial sustainability. The Task Force acts in the creation and dissemination of clear concepts on social finance, in the articulation of strategic actors and in the prioritization and monitoring of actions in order to accelerate the growth of this field in the country.
