Promotes and finances cooperative movements in Italy.
Coopfond is an Italian financial institution that manages a solidarity fund established by Legacoop, one of Italy's largest cooperative associations. Founded in 1992, Coopfond's primary mission is to promote and develop the cooperative movement in Italy. The organization focuses on supporting new cooperative start-ups, strengthening existing cooperatives, and fostering innovation within the sector. Coopfond's resources primarily come from 3% of the annual profits of Legacoop member cooperatives, as mandated by Italian law. Coopfond offers below-market-rate loans and equity investments to finance cooperative projects. While specific funding amounts vary, the organization has invested hundreds of millions of euros since its inception. Eligibility for funding typically requires membership in Legacoop and alignment with Coopfond's development objectives. The fund prioritizes investments in various sectors, including agriculture, social services, tourism, and technology. It also emphasizes supporting cooperatives in Southern Italy to promote economic development in less advantaged regions. Coopfond's approach combines financial support with technical assistance, helping cooperatives develop sustainable business models. This strategy has contributed to the growth and resilience of Italy's cooperative sector, making it a significant player in the country's economy and a model for cooperative development across Europe.