Conference Financial Instruments 2014-2020 under European Structural and Investment Funds (ESIF)

Overview

Europe-wide support for ESIF financial instruments

The partnership between the EC and the EIB, and their shared commitment to seeing an increase in ESIF Financial instruments, were addressed during the opening statements by Jyrki Katainen, Vice-President of the European Commission and Wilhelm Molterer, Vice-President of the European Investment Bank. Both leaders clearly placed ESIF financial instruments and their associated advisory services within the context of the Investment Plan for Europe and showed their determination to make the increase happen on the ground.

The European Commission’s Directors-General responsible for the five ESI funds (Walter Deffaa, DG Regional and Urban Policy; Lowri Evans, DG Maritime Affairs and Fisheries; Jerzy Bogdan Plewa, DG Agriculture and Rural Development; and Michel Servoz, DG Employment, Social Affairs and Inclusion) joined Wilhelm Molterer, Vice-President of the EIB and Marjut Santoni, Deputy Chief Executive of the EIF, to discuss how the financial instruments set up with ERDF, CF, EMFF, EAFRD, and ESF (the five ESIF) would be beneficial to jobs, growth and the EU Investment Plan. All agreed that there was a need for a paradigm shift to a wider use of financial instruments so as to leverage additional private investment and ensure revolving funds.

Closing remarks by Regional Policy Commissioner Corina Creţu on the importance of financial instruments and their ability to generate strategic and effective investments, job creation and sustainable growth wrapped up the first day on a dynamic note: “I strongly encourage Member States to double their use of financial instruments during the 2014-2020 budgetary period. In the upcoming period, we should mobilise close to 30 billion euros of investments, for financial instruments.

 

Opportunities under the new framework for ESIF financial instruments

The event also provided valuable expertise on the practical implementation of financial instruments during the 2014-2020 period. Participants were given an overview of how the new rules build on the 2007-2013 experience to now include a wider scope, and wider implementation options, for all managing authorities (MAs) of ESI funds. MAs can now choose between off the shelf instruments (pre-defined, but still flexible – the renovation loan, the risk-sharing loan and the capped guarantee, with two more in the pipeline), tailor made instruments (as in 2007-2013), direct implementation (MAs can implement loans or guarantees directly or through an intermediate body), and pooling resources by contributing programme allocations to EU level instruments (COSME, Horizon 2020) or to support SMEs on a wider scale through the "SME Initiative", which aims to increase the volume of lending to SMEs in the EU. The ESF’s new opportunities for Micro-finance were also developed for the benefits of business activity, by extending financing to help self-employment and business start-ups, pathways to integration and re-entry into employment for disadvantaged people.

For Agriculture, Rural Development and the EAFRD, the workshop showed that the history of using financial instruments is much more recent than for ERDF and ESF. It is the specific nature of each policy area which drives the need for specific products supporting financial instruments in all fields.

 

Learning from practice: case studies and pioneers

To inspire those who may have thought that it was still a little complicated, financial instrument pioneers made a point of showing how they had overcome administrative hurdles based on good partnerships, and successfully implemented financial instruments in 2007-2013. Some of the fi-compass case-studies presented were from the Ministry of Economy of the Republic of Bulgaria together with CiBank, the Entrepreneurship Promotion Fund set up by the Ministry of Social Security and Labour together with INVEGA in Lithuania, and the London Green Fund set up by the Greater London Authority in the UK.

Specific know-how and success stories were also shared and discussed in a “pioneer’s roundtable” by national and local authorities, together with academics, consultants and financial organisations from across Europe, as highlighted in this video by the City Sustainable Investment in Europe (CSI Europe) Network.

EAFRD and EMFF cases also inspired vivid discussions of how to expand the use of financial instruments under these ESI Funds, while doing justice to their specific policy objectives and target beneficiaries.

The Ex-ante assessments, now obligatory, were the focus of the last session: the EIB explained the necessary steps, which are there to ensure that there is a real need and a real impact for a financial instrument before a commitment is made.

 

Practical support will be provided by fi-compass

The concept behind fi-compass is to deliver several forms of assistance to support a better use of financial instruments. Both the EC and the EIB provided examples of how the new platform will develop over the coming months and years. fi-compass is a unique new platform that will provide horizontal advisory services to all Member States and for all types of ESIF financial instruments. The EC provided an introduction to the Multi-region advisory assistance  which will also be available. But in order to make fi-compass as relevant as possible and able to address real needs for advice, the Commission and the EIB need feedback from stakeholders!

Soon, fi-compass will become the "one stop shop” for advice to entities managing ESIF, as well as their public and private sector partners.

speakers' guide

 

Title Speakers
file not yet available file not yet available file not yet available file not yet available 1. The role of ESIF Financial Instruments in EU policy
file not yet available video file not yet available file not yet available Opening statement

Jyrki Katainen, Vice-President, of the European Commission

Wilhelm Molterer, Vice-President of the European Investment Bank

file not yet available video file not yet available file not yet available Jobs, Growth and Investment Plan & ESIF Financial Instruments

Walter Deffaa, Director General, Regional and Urban Policy,

Lowri Evans, Director General, Maritime Affairs and Fisheries,

Jerzy Bogdan Plewa, Director General, Agriculture and Rural Development,

Michel Servoz, Director General, Employment, Social Affairs and Inclusion,

Wilhelm Molterer, Vice-President, EIB,

Marjut Santoni, Deputy Chief Executive, EIF

file not yet available video file not yet available file not yet available Closing remarks

Corina Creţu, Commissioner for Regional Policy

file not yet available file not yet available file not yet available file not yet available 2. Lessons Learnt from Financial Instruments in Cohesion Policy 2007-2013
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Case study: Financial Instruments under JEREMIE in Bulgaria

Miglena Dobreva Ministry of Economy of Republic of Bulgaria

Kiril Velitchkov CIBANK, KBC Group

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Case study: Implementation of Entrepreneurship Promotion Fund (EPF) in Lithuania

Žaneta Maskalioviene Ministry of Social Security and Labour, Lithuania

Audrius Zabotka, INVEGA

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Lessons Learnt from London Green Fund

Kenroy Quellennec-Reid Greater London Authority

file not yet available file not yet available file not yet available file not yet available 3. The new framework 2014-2020
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Key features and opportunities of financial instruments under ESI funds 2014-2020

Nicholas Martyn, EC

file not yet available video file not yet available file not yet available 4. Workshop - Financial Instruments under the ERDF, CF and ESF: Focus on off-the-shelf financial instruments, SME Initiative and ESF & microfinance
pdf
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Financial Instruments under ESIF: Standard terms and conditions for financial instruments (2014/964/EU)

Thomas de Bethune, EC

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Financial Instruments experiences in energy efficiency

Frank Lee, EIB

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Financial instruments - Implementation through Funds of Funds

Piotr Stolowski, EIF

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Financial Instruments in Cohesion Policy 2014-2020: The SME initiative

Joerg Lackenbauer, EC

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ESF and micro-finance: New opportunities

Andrea Da Pozzo, EC

Emmanuelle Guiheneuf, EC

file not yet available video file not yet available file not yet available 5. Workshop: Financial Instruments under the EAFRD and EMFF - Focus on programming of financial instruments 2014-2020, advisory support and further advisory needs
pdf
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Financial instruments under the EAFRD 2014-2020

Martin Scheele, EC

pdf
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Financial Instruments under RO RDP - Lessons learned challenges and opportunities ahead

Adela Stefan, Ministry of Agriculture and Rural Development, Romania

pdf
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Financial instruments under the EMFF

Harold Hooglander, Ministry of Economic Affairs, Netherlands

pdf
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Financial instruments from EAFRD/EMFF in Estonia

Madis Reinup, Ministry of Agriculture, Estonia

pdf
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Guarantee for market introduction of innovations

Kees van Drunen, Ministry of Economic Affairs, Netherlands

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6. fi-compass workshop: Implementing Financial Instruments in the European Maritime and Fisheries Fund

pdf
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Implementing Financial Instruments in the European Maritime and Fisheries Fund

Poseidon Aquatic Resource Management

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The Use of Financial Instruments under the EMFF 2014-2020

Framian BV and Vivid Economics Ltd

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Realising EMFF Financial Instruments potential

Rod Cappell, Poseidon Aquatic Resource Management Limited

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EMFF and FIs

Miguel Peña Castellot, EC

pdf
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fi-compass & the EMFF

Björn Gabriel, EIB

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7. fi-compass information session - Practical experience and learning from 2007-2013

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Lessons from the ground

Alessandro Valenza, t33 Srl

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CSI Europe – Making Financial Instruments Work for Cities

Des Gardner, CSI Europe Project

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Financial Instruments under the JEREMIE Initiative in Languedoc-Roussillon (FR)

Fabrice Salemi, Region Languedoc-Roussillon

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MV-Venture Finance Hungary Plc. and the JEREMIE Program

Balázs Garamvölgyi, Venture Finance PLC

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Learning from implementing the Credit Fund under EFF and EAFRD in Latvia

Juljia Travina, Ministry of Agriculture, Republic of Latvia

file not yet available video file not yet available file not yet available Panel discussion and Q&A

Alessandro Valenza, t33 Srl

Des Gardner, CSI Europe Project

Fabrice Salemi, Region Languedoc-Roussillon

Balázs Garamvölgyi, Venture Finance PLC

Juljia Travina, Ministry of Agriculture, Republic of Latvia

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Getting started in 2014-2020: Ex-ante assessment for Financial Instruments

Patricia Llopis, EIB

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Getting started in 2014-2020: Ex-ante assessments – the case of Slovakia

Martin Polónyi, Ministry of Finance, Slovak Republic

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Concluding discussion : Informal roundtable of all presenters

Alessandro Valenza, t33 Srl
Des Gardner, CSI Europe Project
Fabrice Salemi, Region Languedoc-Roussillon
Balázs Garamvölgyi, Venture Finance PLC
Juljia Travina, Ministry of Agriculture, Republic of Latvia
Patricia Llopis, EIB
Martin Polónyi, Ministry of Finance, Slovak Republic

file not yet available video file not yet available file not yet available 8. fi-compass support to make better use of Financial Instruments
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fi-compass advisory platform

Rudolf Niessler, EC

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fi-compass horizontal assistance & the role of EIB

Simon Barnes, EIB

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fi-compass Multi-region assistance

file not yet available video file not yet available file not yet available Overview

Rudolf Niessler, EC

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Multi-region assistance: the upcoming call for proposals

Stefan Appel, EC

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EU grants; Rules and Principles

Symela Tsakiri, EC

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How to understand a call for proposals and key provisions of a grant agreement

Bogna Filipiuk-Olteanu, EC