Elma Saiz: “The FIS has invested 50 million euros to boost access to social and affordable housing for vulnerable families”

“The Social Impact Fund (FIS) meets one of the priority objectives of the Government of Spain: improving access to affordable housing, especially for the most vulnerable people and families.” The Minister of Inclusion, Elma Saiz, has taken stock of the housing line promoted by the FIS, which has already approved seven operations aimed at promoting rental housing in different parts of the national territory.

This specific funding line was born with the aim of mobilizing at least 40 million euros for social housing projects. However, the initial commitment has already been exceeded, reaching a total investment of 50 million euros.

“It is a strategic commitment that adds to the government’s effort to promote affordable housing and will facilitate access to a decent home for thousands of people in situations of exclusion,” said the minister, who stressed the importance of public-private collaboration as a key tool to respond to the main social challenges. “It is essential to act from the public administration in collaboration with all the actors involved and promote alliances like this to continue strengthening inclusion and social cohesion,” he added.

Catalytic effect for attracting private capital

Through this initiative, the FIS - attached to the Ministry of Inclusion - has supported entities specialized in the provision of affordable housing, cooperatives and social enterprises such as tuTECHÔ, Provivienda, Primero H, ALAS Affordable Housing for Rent or Sustre Cívic. The resources are used to finance or cofinance sustainable projects with which more than 3,000 homes can be promoted because the fund acts as a catalyst for attracting private capital to impact investment.

The properties will be located both in large urban areas, especially stressed areas, and in rural areas affected by depopulation and in safe, accessible and basic services environments. In this way, the line contributes not only to expanding the supply of affordable housing, but also to meeting the demographic challenge and promoting the social and economic revitalization of the rural environment.

The first operation of the line was approved in May 2025, through a loan to tuTECHÔ, the first social enterprise listed in the Spanish BME Growth. It has been followed by others such as, for example, that of Primera H, the first explicitly social socimi in Spain designed to combat homelessness through rents well below the market price, or that of Provivienda, with which real estate will be purchased to be used for affordable rent with specialized social support.

Social support for families

One of the main elements of this bet is the development of a comprehensive approach based on specialized social accompaniment to residents. The support is aimed at particularly vulnerable groups, including homeless people, victims of gender-based violence, families at risk of social exclusion, low-income households and young people with difficulties in accessing housing.

Likewise, the investment includes the implementation of various technical assistance aimed, mainly, at evaluating the social impact of the projects, reinforcing their sustainability and long-term transformative capacity. These actions will also strengthen the effectiveness of interventions, improve management processes and facilitate the integration of beneficiaries into their environment.

“The FIS is a very innovative financial instrument. With this fund, Spain has become the fourth country in the world and the second at the European level in public-private partnership initiatives of impact and social entrepreneurship,” said Elma Saiz. In addition, it aligns with the strategies of the State Housing Plan 2026-2030 and the Affordable Housing Plan presented by the European Commission in December 2025.

Funded by the PRTR

Included in the addendum to the Recovery, Transformation and Resilience Plan (PRTR) with an allocation of 400 million euros, the FIS was approved in 2024 to strengthen the impact ecosystem through support for investment projects carried out by companies and other entities in Spain that generate a positive and measurable social and/or environmental impact.

Through its investments, it has supported initiatives to promote entrepreneurship, circular economy, socio-occupational integration of people in vulnerable situations, mental health, care for people with disabilities or care for elderly or dependent people.

To this end, it has a solid governance structure divided into three levels. Firstly, Cofides, a public-private company responsible for identifying operations as fund manager.Secondly, a Panel of Independent Experts (IEP) responsible for evaluating operations and drafting independent opinions and, finally, an Inter-Ministerial Technical Investment Committee (ITC) responsible for definitively validating proposals that receive a positive opinion from the IEP.It is the organ of control and monitoring of the operations and its president is Elena Rodríguez, general secretary of Inclusion.