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services on financial instruments under the
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European Structural and Investment Funds
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be an important tool for boosting EU agriculture.
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Investments, in a variety of forms, will help create a modern, dynamic agri-food
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Financial instruments using the European Social Fund
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Abstract

Three identical fi-compass seminars have been organised in three locations in the EU Member States (Paris, Rome and Warsaw).

The purpose of the seminar was:

  • to provide Member States and Managing Authorities with the opportunity to learn more about the advantages, features and suitability of Financial Instruments in delivering ESIF 2014-2020 objectives, in particular the ESF;
  • to provide the opportunity to discuss in depth the technical challenges that the Managing Authorities and the Member States are facing at the moment in regards to the design and set up of Financial Instruments; and
  • to present the regulatory framework and key novelties of the Financial Instruments and the fi-compass support available.

Participants could expect to further their understanding of how Financial Instruments could help in their efforts to deliver ESIF 2014-2020 objectives, under the European Social Fund in particular. Case studies on Financial Instruments solutions developed by regions and Member States, the guidance by the European Commission and the support by fi-compass have been presented in these three seminars. In addition, a training session on the ex-ante assessment in the context of ESF has been provided.

The final agenda

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Event Video

Seminar: Financial Instruments for delivery of the ESF, Warsaw, 4 November 2015

On 4 November 2015, financial instruments under the ESF were discussed at a seminar in Warsaw. This seminar was part of a series of ESF seminars conducted in Paris, Rome and Warsaw.

Around 70 participants attended the seminar in Warsaw which shows high interest in financial instruments under the ESF. Following the opening and welcome speeches by Andrea Da Pozzo, European Commission and Ando Siitam, European Investment Bank practical experiences on the use of financial instruments under the ESF were presented. This included examples from Lithuania, Latvia and Poland.

Picture: Event participants

All practical examples showed the importance of combining financial support with non-financial support. The entrepreneurship promotion fund in Lithuania showed how ESF financial instruments can help to change attitudes of stakeholders towards business investments, e.g. combining loans with training for final recipients can help increase both the confidence and competence of entrepreneurs to progress their business ideas. A lesson learned from the Polish case reinforces the role of integrated support and highlighted the value of counselling as well as reduced bureaucratic barriers. Lastly the Latvian case showed that training and consultation is helpful to assess the risks and opportunities to make realistic business plans.

Picture: Ando Siitam, European Investment Bank; Sabine Zillmer, fi-compass expert 

The presentations of practical examples were followed by a presentation on ESF programmes and the potential use of financial instruments. Other speakers highlighted the availability of fi-compass support to ESF programmes as well as how financial instruments can support employment and social innovation under the EU programme for Employment and Social Innovation (EaSI). This included more detailed information about the potential for microfinance.

The seminar concluded with training on the initial design phase in the life cycle of an ESF financial instrument. Participants discussed the basic steps of an ex-ante assessment, plus implementation options for financial instruments as well as the pros and cons of financial products. Working groups at the seminar were split by the most common thematic objectives in ESF programmes, ESIF thematic objective 8, 9 and 10. Discussions lead to the conclusion that financial instruments are a useful tool and can also support the objectives related to the ESF.

Picture: Shadin Viratham, DG EMPL

Seminar: Financial Instruments for delivery of the ESF, Warsaw, 4 November 2015

Title Speakers
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Welcome

Andrea Da Pozzo, European Commission

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Welcome

Ando Siitam, European Investment Bank

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Introduction – key features of Financial Instruments

Alessandro Valenza, fi-compass expert

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State of play of Financial Instruments in the ESF 2014-2020 programmes
Case studies presented: challenges and solutions

Audrius Zabotka, INVEGA, Lithuania

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State of play of Financial Instruments in the ESF 2014-2020 programmes
Case studies presented: challenges and solutions

Paweł Chorąży, Ministry of Infrastructure and Development, Poland

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State of play of Financial Instruments in the ESF 2014-2020 programmes
Case studies presented: challenges and solutions

Juris Cebulis, Altum, Latvia

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The ESF programmes and the potential use of Financial Instruments

Andrea Da Pozzo, European Commission

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The fi-compass support to ESF programmes

Ando Siitam, European Investment Bank

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Financial instruments to support employment and social innovation: EU Programme for Employment and Social Innovation (EaSI) 

Shadin Viratham, European Commission

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Training session on design of Financial Instruments under ESF

Alessandro Valenza, Tim Wills and Michele Alessandrini, fi-compass experts

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Conclusions

Andrea Da Pozzo, European Commission

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Conclusions

Ando Siitam, European Investment Bank