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

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.

Date: 
Mon, Jan 19, 2015 to Tue, Jan 20, 2015
Location: 
Brussels, Charlemagne Building
Address: 
Charlemagne Building, GASP room 170 rue de la Loi B-1040 Brussel
Type: 
Conference
Registration required: 
Yes
Recorded: 
Recorded

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

Conference programme, speakers' guide

1. The role of ESIF Financial Instruments in EU policy

  • Opening statement by Jyrki Katainen, Vice-President, of the European Commission and Wilhelm Molterer, Vice-President of the European Investment Bank video
  • 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 video
  • Closing remarks from Corina Creţu, Commissioner for Regional Policy video

2. Lessons Learnt from Financial Instruments in Cohesion Policy 2007-2013

  • Case study: Financial Instruments under JEREMIE in Bulgaria
    Miglena Dobreva Ministry of Economy of Republic of Bulgaria and Kiril Velitchkov CIBANK, KBC Group presentation - video - case study
  • Case study: Implementation of Entrepreneurship Promotion Fund (EPF) in Lithuania
    Žaneta Maskalioviene Ministry of Social Security and Labour, Lithuania and Audrius Zabotka, INVEGA presentation - video - case study
  • Lessons Learnt from London Green Fund
    Kenroy Quellennec-Reid Greater London Authority presentation - video - case study

3. The new framework 2014-2020

  • Key features and opportunities of financial instruments under ESI funds 2014-2020
    Nicholas Martyn, EC presentation - video

4.Workshop - Financial Instruments under the ERDF, CF and ESF: Focus on off-the-shelf financial instruments, SME Initiative and ESF & microfinance

full workshop video

  • Financial Instruments under ESIF: Standard terms and conditions for financial instruments (2014/964/EU)
    Thomas de Bethune, EC presentation - video
  • Financial Instruments experiences in energy efficiency
    Frank Lee, EIB presentation - video
  • Financial instruments - Implementation through Funds of Funds
    Piotr Stolowski, EIF presentation - video
  • Financial Instruments in Cohesion Policy 2014-2020: The SME initiative
    Joerg Lackenbauer, EC presentation - video
  • ESF and micro-finance: New opportunities
    Andrea Da Pozzo, EC and Emmanuelle Guiheneuf, EC presentation - video

5. Workshop: Financial Instruments under the EAFRD and EMFF - Focus on programming of financial instruments 2014-2020, advisory support and further advisory needs

full workshop video

  • Financial instruments under the EAFRD 2014-2020
    Martin Scheele, EC presentation - video
  • Financial Instruments under RO RDP - Lessons learned challenges and opportunities ahead
    Adela Stefan, Ministry of Agriculture and Rural Development, Romania presentation - video - case study
  • Financial instruments under the EMFF
    Harold Hooglander, Ministry of Economic Affairs, Netherlands presentation - video
  • Financial instruments from EAFRD/EMFF in Estonia
    Madis Reinup, Ministry of Agriculture, Estonia presentation - video
  • Guarantee for market introduction of innovations
    Kees van Drunen, Ministry of Economic Affairs, Netherlands presentation - video

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

  • Implementing Financial Instruments in the European Maritime and Fisheries Fund
    Poseidon Aquatic Resource Management presentation
  • The Use of Financial Instruments under the EMFF 2014-2020
    Framian BV and Vivid Economics Ltd presentation
  • Realising EMFF Financial Instruments potential
    Rod Cappell, Poseidon Aquatic Resource Management Limited  presentation
  • EMFF and FIs
    Miguel Peña Castellot, EC presentation
  • fi-compass & the EMFF
    Björn Gabriel, EIB presentation

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

full video

  • Lessons from the ground
    Alessandro Valenza, t33 Srl presentation - video
  • CSI Europe – Making Financial Instruments Work for Cities
    Des Gardner, CSI Europe Project presentation - video
  • Financial Instruments under the JEREMIE Initiative in Languedoc-Roussillon (FR)
    Fabrice Salemi, Region Languedoc-Roussillon  presentation - video
  • MV-Venture Finance Hungary Plc. and the JEREMIE Program
    Balázs Garamvölgyi, Venture Finance PLC  presentation - video
  • Learning from implementing the Credit Fund under EFF and EAFRD in Latvia
    Juljia Travina, Ministry of Agriculture, Republic of Latvia presentation - video - case study
  • Panel discussion and Q&A
    Alessandro Valenza, Des Gardner, Fabrice Salemi, Balázs Garamvölgyi and Juljia Travina video

Getting started with Financial Instruments in 2014 - 2020

  • Getting started in 2014-2020: Ex-ante assessment for Financial Instruments
    Patricia Llopis, EIB presentation - video
  • Getting started in 2014-2020: Ex-ante assessments – the case of Slovakia
    Martin Polónyi, Ministry of Finance, Slovak Republic presentation - video

Concluding discussion

  • Informal roundtable of all presenters
    Alessandro Valenza, Des Gardner, Fabrice Salemi, Balázs Garamvölgyi, Juljia Travina, Patricia Llopis and Martin Polónyi video

8. fi-compass support to make better use of Financial Instruments

Scope of fi-compass support full video

  • fi-compass advisory platform
    Rudolf Niessler, EC presentation
  • fi-compass horizontal assistance & the role of EIB
    Simon Barnes, EIB presentation

fi-compass Multi-region assistance

  • Overview
    Rudolf Niessler, EC video
  • Multi-region assistance: the upcoming call for proposals
    Stefan Appel, EC presentation - video
  • EU grants; Rules and Principles
    Symela Tsakiri, EC presentation - video
  • How to understand a call for proposals and key provisions of a grant agreement
    Bogna Filipiuk-Olteanu, EC presentation - video