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Abstract

The fi-compass series of advisory seminars in Member States included an event in Croatia on 24 November 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 Croatia;
  • provide an opportunity to learn about and discuss in depth the technical challenges that the stakeholders are facing with regard to 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 Zagreb 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 conducted with participants.

The final agenda

Photo Library

Financial Instruments delivering ESI Funds, Zagreb, 24 November 2015

Picture: Jakša Puljiz, Deputy Minister, Ministry of Regional Development and EU Funds

On 24 November 2015, financial instruments delivering ESI Funds were discussed at a seminar in Zagreb, Croatia. This seminar was part of a series of seminars which will be conducted in 24 EU Member States into 2016.

Around 100 people participated in the seminar in Zagreb, including representatives from managing authorities and audit authorities, as well as from the banking and consultancy sectors.

Picture: Damir Gubić, Ministry of Regional Development and EU Funds

Picture: Event participants

Following the opening speech by Mr Jakša Puljiz, Deputy Minister, Ministry of Regional Development and EU Funds, the state of play of financial instruments in Croatia was presented. In addition, participants had the opportunity to learn more about the JEREMIE experience in the Languedoc-Roussillon region, as well as the JESSICA experience in three regions of Italy: Sicily, Campania, Sardinia. In addition to the case study speakers, Srđan Kovačević, from the Croatian Pension Investment Company, was one of the panellists contributing to the discussion.

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 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 Croatia 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.

It was clear from the seminar that there is a high level of interest in financial instruments in Croatia. The discussions highlighted: the challenge of a lack of venture capital in Croatia; the importance of starting early with the preparation of financial instruments; and that more specific workshops and advisory services could be beneficial for exploring the use of financial instruments.

Financial Instruments delivering ESI Funds, Zagreb, 24 November 2015

Title Speakers
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Financial instruments in Croatia

Damir Gubić, Ministry of Regional Development and EU Funds

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JEREMIE experience in Languedoc-Roussillon

Marco Giuliani, European Investment Fund

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JESSICA experience in 3 Italian regions

Filippo Granara, Equiter, Intesa Sanpaolo Group, Italy

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Opportunities offered by the 2014-20 framework

Joerg Lackenbauer and Robert Pernetta, European Commission (DG REGIO) 

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fi-compass advisory support

Björn Gabriel, European Investment Bank