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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
Looking for your way?
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

Expert Group on ESIF implementation issues

Employment and Social Innovation (EaSI)

The Employment and Social Innovation (EaSI) programme is a financing instrument at EU level to promote a high level of quality and sustainable employment, guaranteeing adequate and decent social protection, combating social exclusion and poverty and improving working conditions.


Provision of capital to a firm, invested directly or indirectly in return for total or partial ownership of that firm and where the equity investor may assume some management control of the firm and may share the firm’s profits.

Equity gap

Exists when there is a persistent capital market imbalance preventing supply from meeting demand at any price (or at a price acceptable to both sides). 

European Court of Auditors

EU Institution established to carry out the audit of EU finances. As the external body having auditing rights over the Commission, it contributes to improving EU financial management and acts as the independent guardian of the financial interests of the citizens of the Union.

European Progress Microfinance Facility

The European Progress Microfinance Facility, increases the availability of microcredit – loans below € 25 000 – for setting up or developing a small business.

European Regional Development Fund (ERDF)

Fund financed by European Union budgetary resources, set up in 1975 to stimulate economic development in the least prosperous regions of the EU. As one of the EU's Structural Funds, ERDF seeks to correct imbalances between regions across the EU and enhance economic and social cohesion.

European Social Fund (ESF)

Fund financed by European Union budgetary resources, set up in 1958 to improve employment and job opportunities in the European Union and so help raise standards of living. It aims to help people fulfil their potential by giving them better skills and better job prospects. 


A financial instrument or fund without a fixed maturity or term.

Ex-ante assessment

An assessment which precedes the European Structural and Investment Funds (ESIF) programme contribution to a financial instrument and which establishes evidence of market failures or sub-optimal investment situations and the estimated level and the scope of public investment needs, including types of financial instruments.

Ex-ante evaluation

Ex-ante evaluation required for Programmes in line with Article 55 of the CPR. The ex-ante evaluation of the programme should consider the form of interventions to be used at programme level (i.e. be a high-level gap analysis/feasibility study carried out in parallel with the programming exercise), leading to determine whether financial instruments should or should not be inincluded in the OP/RDP.

Exit policy/strategy

A policy/strategy for the liquidation of holdings by a Venture Capital or private Equity fund according to a plan to achieve maximum return, including trade sale, write-offs, repayment of preference shares/Loans, sale to another Venture Capitalist, sale to a financial institution and sale by public offering (including initial public offerings).

Expansion capital

Financing provided for the growth of a firm, which may or may not break even or be profitable. Capital may be used to finance increased production capacity, market or product development, or to provide working capital.

Expiry date of repayment term

A loan of a specific amount has a specified repayment schedule and specified maximum term (maturity). The expiry date refers to a date in the future upon which the borrower has to fulfill its last and final repayment obligation.