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The fi-compass series of advisory seminars in Member States included a Bulgarian event on 6 October 2015.

The seminar aimed to:

  • provide ministries, managing authorities and other relevant ESIF stakeholders from the public and private sectors with an opportunity to learn more about the advantages, features and suitability of financial instruments in delivering ESIF 2014-2020 objectives, with a specific focus on the thematic priorities of Bulgaria;
  • provide the opportunity to learn about and discuss in depth the technical challenges that the stakeholders are facing as regards the design and set up of financial instruments;
  • offer support for Member States and managing authorities by introducing relevant fi-compass learning material.

The seminar in Sofia featured case studies on financial instruments, the opportunities offered by the 2014-2020 regulatory framework, the advisory products issued by fi-compass to support the design and set-up of financial instruments. In addition, two hands-on oriented workshops were provided.

The final agenda

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Financial Instruments delivering ESI Funds, Sofia, 6 October 2015

On 6 October 2015, financial instruments delivering ESI Funds were discussed at a seminar in Sofia. This seminar was part of a series of seminars conducted in 25 EU Member States.

Around 120 participants attended the seminar in Sofia. This shows a high interest in financial instruments. Following the opening speech by Ms Kordova, Director of the Monitoring of EU Funds Directorate in Bulgaria, practical experience on the use of financial instruments was presented. This included experience from the JESSICA implementation and the use of financial instruments to strengthen risk capital in Bulgaria. Looking beyond Bulgaria, a perspective on the use of EAFRD and EMFF financial instruments in Estonia was presented for the delegates in Sofia.

The European Commission’s Directorate-General for Regional and Urban Policies presented key novelties and official guidance concerning ESIF financial instruments. This was complemented by a presentation by the European Investment Bank about how fi-compass can help Member States to advance with financial instruments.

Two parallel workshops during the Sofia seminar focused on hands-on work following the life cycle of financial instruments - with a particular emphasis on the design phase. The participants discussed possible approaches and their own practical experience concerning a number of crucial issues in designing financial instruments, e.g. concerning the market assessment needed for the ex-ante assessment.

Overall, both speakers and participants stressed that there is a lot of potential for financial instruments in Bulgaria.

Financial Instruments delivering ESI Funds, Sofia, 6 October 2015

Title Speakers
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JESSICA implementation in Bulgaria Challenges and success stories

Tonya Sakarova, Managing Authority of “Regional Development” Operational Programme, Ministry of Regional Development and Public Works, Republic of Bulgaria

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Financial Instruments with EAFRD/EMFF in Estonia

Madis Reinup, Member of the Board, Rural Development Foundation, Republic of Estonia

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Risk capital for Bulgarian start-ups

Hristo Stoyanov, Mandate Manager, European Investment Fund
Daniel Tomov, co-founder and partner of Eleven Fund

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Opportunities offered by the 2014-20 framework

Albena Taneva, European Commission (DG REGIO)
Oana-Andreea Dordain,European Commission (DG REGIO)

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fi-compass advisory support

Pieter Coppens, European Investment Bank