Financial Instruments delivering ESI Funds, Riga, 30 October 2015

Overview

Picture: Event participants

On 30 October 2015, financial instruments delivering ESI Funds were discussed at a seminar in Riga, Latvia. This seminar was part of a series of seminars which will be conducted in 25 EU Member States into 2016.

At the seminar in Riga, a total of 79 people took part and these participants included representatives from managing authorities as well as the banking and consultancy sectors.

Following the opening speech by Mr Ašeradens, Parliamentary Secretary at the Latvian Ministry of Finance, practical experience on the use of financial instruments was presented. This included the state of play in Latvia; JESSICA experience in the field of energy efficiency in Lithuania; and the use of financial instruments to increase venture capital in Latvia.

Picture: Event participants

Picture: Event participants

The European Commission’s Directorate-General for Regional and Urban Policies in cooperation with the Directorate-General Agriculture and Rural Development presented key novelties and official guidance concerning ESIF financial instruments. This was complemented by a presentation by the European Investment Bank on how fi-compass can help Member States to advance with financial instruments. Two parallel workshops during the Riga 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.

Picture: Panel Janis Janevics, Paul Sullivan, Junona Bumelyte

Picture: Panel Janis Janevics, Paul Sullivan, Junona Bumelyte

Overall, the seminar showed that financial instruments are progressing within the Latvian ESIF implementation. The discussions highlighted the importance of targeted advisory services for the ESIF financial instruments community as well as the usefulness of the material available at the fi-compass website.

 

Title Speakers
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Presentation of case studies on Financial Instruments

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Financial instruments in Latvia: State of Play

Edmunds Valantis, Director of ESIF Implementation Department, Ministry of Economics, Republic of Latvia

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Financial instruments for Energy Efficiency on the example of JESSICA Lithuania

Junona Bumelyte and Paul Sullivan, European Investment Bank

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Financial instruments for Venture Capital

Janis Janevics, Partner, Imprimatur Capital

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Opportunities offered by the 2014-20 framework

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Opportunities offered by the 2014-20 framework

Ricardo Pinheiro and Ieva Zālīte, DG Regional and Urban Policy, European Commission

Nivelin Noev, DG Agriculture and Rural Development, European Commission

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fi-compass advisory support

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fi-compass advisory support

Ando Siitam, European Investment Bank