IFI – Innovative Finance Inclusion in Academia and Field has been selected for EU co-funding by the EACEA (Education, Audiovisual and Culture Executive Agency) as an Erasmus+ programme for capacity building in higher education.
IFI Project aims to systematically align the Israeli higher education system with global changes and develop new capacities for inclusive social finance on three levels: (a) Eco-system & Infrastructure, (b) Academy-Industry Cooperation, (c) Research, Teaching & Training.
IFI project aspires to support the refreshing (however, still rare) academic research on sustainable finance with teaching, education, and entrepreneurship actions. It is accomplished through training sessions, education programs, designed innovative sustainable finance investments fund, and mostly through mapping the field in Israel and Europe, to identify relevant stakeholders, change agents and community of practice in the Sustainable Finance (SF) field.
IFI brings an interdisciplinary approach, stressing shifting focus is needed not only in finance but also in economics, law, technology, design and education.
Gathering European and Israeli experts, the project acts as a platform to foster integrated community and cultivating evidence-based standards and practices, building a scope of knowledge and case studies, training investors, regulators and innovators, letting students practice ESG (Environmental, Social, and Corporate Governance) investments, and encourage innovation. All practices are key components of a thriving sustainable finance ecosystem and HEIs (Higher Education Institutions) capacity building. IFI is the first national consortium created explicitly to provide infrastructure, knowledge and innovation to further develop the sustainable and inclusive finance ecosystem in HEIs and field.
The Erasmus+ Program
Erasmus+ is the EU's programme to support education, training, youth and sport in Europe. Its budget of €14.7 billion will provide opportunities for over 4 million Europeans to study, train, and gain experience abroad.
The Programme is made up of three so-called "Key Actions" (Mobility, Cooperation and Policy) and two additional actions.
Capacity Building in the field of Higher Education are transnational cooperation projects, based on multilateral partnerships, primarily between higher education institutions from Programme and eligible Partner Countries.
The aim of these projects is to support eligible Partner Countries to:
modernise, internationalise and increase access to higher education
address the challenges facing their higher education institutions and systems
increase cooperation with the EU
voluntarily converge with EU development in higher education, and
promote people to people contacts, intercultural awareness, and understanding.
This is carried out in the context of two key policy documents and the policy defined by four complementary financing instruments;
Increasing the Impact of EU Development Policy: An Agenda for Change,
European Higher Education in the World.
the European Neighbourhood Instrument
the Development Cooperation Instrument
the Instrument for Pre-Accession Assistance, and
the European Development Fund.