Financial Instruments delivering ESI Funds, Lisbon, 18 January 2016
On 18 January 2016, financial instruments delivering ESI Funds were discussed at a seminar in Lisbon, Portugal. More than 130 people participated in this seminar, including representatives from managing authorities and audit authorities, as well as from the banking and consultancy sectors.
Picture: Nelson Souza, Secretary of State for Development and Cohesion, Portugal
This seminar is part of a series of national seminars that will be conducted in almost all EU Member States. The Lisbon seminar was one of the best-attended seminars to date.
The opening speech was given by Nelson Souza, Secretary of State for Development and Cohesion, Portugal. Following the opening speech, risk capital funds under ERDF were presented. In addition, participants had the opportunity to learn more about North West Evergreen Fund and loans for urban development under the ERDF, the London Green Fund and loans and equity for a low carbon economy under the ERDF as well as the role of non-ESIF co-financed guarantees for agriculture.
Picture: Oana-Andreea Dordain, DG REGIO, European Commission and event participant
The European Commission’s Directorate-General for Regional and Urban Policy and the European Commission’s Directorate-General for Agriculture and Rural Development talked about key novelties and official guidance concerning ESIF financial instruments and opportunities offered by the 2014-2020 framework. This was complemented by a presentation from the European Investment Bank on how fi-compass can help Member States to advance with financial instruments. Two parallel workshops during the seminar in Portugal focused on hands-on work following the life cycle of financial instruments with particular emphasis on the design phase. The participants actively discussed possible approaches and their own practical experience with a number of crucial issues regarding designing financial instruments and concerning the market assessment needed for the ex-ante assessment.
Picture: Event overview
The success of the seminar demonstrated that there is a very high interest in financial instruments in Portugal. The delegates' discussions highlighted the potential for financial instruments to support job creation objectives. The advantages of financial instruments compared to grants were also appreciated by many, and this can help to encourage a move toward increased use of ESIF financial instruments in Portugal.