Financial Instruments delivering ESI Fund, Rome, 22 October 2015
Picture: Salvatore Vescina, Presidency of the Council of Ministers of the Italian Republic
On 22 October 2015, financial instruments delivering ESI Funds were discussed at a seminar in Rome. This seminar was part of a series of seminars conducted in 25 EU Member States.
Following the opening speech of Salvatore Vescina, Presidency of the Council of Ministers of the Italian Republic, practical experiences on the use of financial instruments were presented. This included the experience of supporting SMEs using guarantee schemes in Tuscany under the ERDF programme 2007-13, the experience of JEREMIE in Campania and the experiences of using JESSICA for urban development in Sardinia and Sicily.
Picture: Event participants
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.
Picture: Simonetta Baldi, Regione Toscana, Italy
Two parallel workshops during the Rome 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, concerning the market assessment needed for the ex-ante assessment.
Overall, the seminar showed a high interest in financial instruments and that these tools offer useful potential. The discussion highlighted the importance of the ex-ante assessment, mapping of regulations and guidance, involving a wide range of different players, as well as the flexibility offered by financial instruments.