Investment & Fund Management

In the village of Hosman, Romania, a unique social project emerged from a collaboration between individuals of diverse ethnic backgrounds, aiming to transform the area into a tourist attraction. The project began in 2010 when the old mill in the village was purchased, requiring significant restoration. Violeta Boldizsár, the baker, now operates a bakery on the premises, offering traditional baked goods made from recipes passed down through generations. The bakery not only serves local customers but also distributes products to shops in Sibiu and participates in local fairs.

To support the development of this venture, Vitas, a microfinance institution and EIF financial intermediary, provided three loans at different stages of the bakery's growth. The initial loan was utilized to repair the oven and furnace in the old mill, while the second loan financed the purchase of raw materials to maintain production and support distribution efforts. The third loan, backed by the European Progress Microfinance Facility, facilitated the renovation of a showroom for product exhibitions and events.

The project has evolved into a model of sustainability and community engagement, hosting various events such as concerts and workshops, and plans are in place to renovate a barn for additional community activities. This initiative not only revitalizes the local economy but also fosters cultural exchange and pride among the residents of Hosman.