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.