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services on financial instruments under the
fi-compass is a unique platform for advisory
for Employment and Social Innovation (EaSI).
European Structural and Investment Funds
(ESIF) and microfinance under the Programme
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be an important tool for boosting EU agriculture.
Investments, in a variety of forms, will help create a modern, dynamic agri-food
sector to create jobs and enhance growth in the EU. Financial Instruments will


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Title Term Definition
Capital Receipts

Payments or distributions or other amounts received or to be received by the relevant Financial Instruments representing the repayment or return of all or part of the Principal or capital element of any investment.

Certifying Authority (CE)

A certifying authority is responsible for guaranteeing the accuracy and probity of statements of expenditure and requests for payments before they are sent to the European Commission. Management of the European Regional Development Fund, European Social Fund and Cohesion Fund is shared with member countries, regions and other intermediary bodies. A certifying authority is nominated by one or more of the aforementioned groups for each Operational Programme co-financed by these Funds. Specific responsibilities of certifying authorities include: 1. Certifying compatibility of expenditure with national and EU rules and criteria; 2. Ensuring sufficient information is received from the relevant Managing Authorities to support their claims; 3. Taking account of audit reports; 4. Maintaining computerised records; 5. Keeping account of unused/recovered funds to be returned to the Commission.

Cohesion Fund

The Cohesion Fund is aimed at Member States whose Gross National Income (GNI) per inhabitant is less than 90 % of the EU average. It aims to reduce economic and social disparities and to promote sustainable development. The Cohesion Fund allocates a total of € 63.4 billion to activities under the following categories: 1. trans-European transport networks, notably priority projects of European interest as identified by the EU. The Cohesion Fund will support infrastructure projects under the Connecting Europe Facility; 2. environment: here, the Cohesion Fund can also support projects related to energy or transport, as long as they clearly benefit the environment in terms of energy efficiency, use of renewable energy, developing rail transport, supporting intermodality, strengthening public transport, etc. The financial assistance of the Cohesion Fund can be suspended by a Council decision (taken by qualified majority) if a Member State shows excessive public deficit and if it has not resolved the situation or has not taken the appropriate action to do so.

Cohesion Policy

Cohesion Policy is the European Union's strategy to promote and support the 'overall harmonious development' of its Member States and regions.Enshrined in the Treaty on the Functioning of the European Union (Art. 174), the EU's Cohesion Policy aims to strengthen economic and social cohesion by reducing disparities in the level of development between regions. The policy focuses on key areas which will help the EU face up to the challenges of the 21st century and remain globally competitive. Approximately 35.7% of the EU budget 2007-13 (equivalent to ca. €347.41 billion over seven years at 2008 prices) is allocated to financial instruments which support Cohesion Policy. These are managed and delivered in partnership between the European Commission, the Member States and stakeholders at the local and regional level.

Commission Communication

A Communication is a policy document with no mandatory authority. The Commission takes the initiative of publishing a Communication when it wishes to set out its own thinking on a topical issue. A Communication has no legal effect.

Commission Recommendation

In EU law Choose translations of the previous link, a Recommendation is a legal instrument that encourages those to whom it is addressed to act in a particular way without being binding on them. A recommendation enables the Commission (or the Council) to establish non-binding rules for the EU countries or, in certain cases, Union citizens.

Common Agricultural Policy (CAP)

The Common Agricultural Policy is one of the most important EU policies. The main aims of the policy include ensuring reasonable prices for Europe's consumers, fair incomes for farmers, production of high quality products and the use of environmentally friendly production methods, through the Common Market Organisation. CAP can intervene by providing financial support when farmers are hit by natural disasters or outbreaks of animal diseases such as foot-and-mouth.

Common Provision Regulation (CPR)

Regulation (EU) No 1303/2013 of the European Parliament and of the Council of 17 December 2013 laying down common provisions on the European Regional Development Fund, the European Social Fund, the Cohesion Fund, the European Agricultural Fund for Rural Development and the European Maritime and Fisheries Fund and laying down general provisions on the European Regional Development Fund, the European Social Fund, the Cohesion Fund and the European Maritime and Fisheries Fund and repealing Council Regulation (EC) No 1083/2006.

Credit Risk Assessment

Credit Risk Assessment is a step in a risk management procedure related to the determination of the quantitative or qualitative value of the credit risk ("valuation") associated to an investment.