A new guidance note has been published by the European Commission about financial instruments using the European Structural & Investment Funds (ESIF). Managing authorities that use financial instruments as a tool for achieving the objectives of an ESIF programme can either undertake implementation tasks directly, invest in the capital of a newly created or existing legal entity, or entrust implementation tasks to other bodies. In the latter case, Article 38(4)(b) of the Common Provisions Regulation provides different possibilities for entrusting financial instruments implementation tasks. This new guidance note from the European Commission aims at providing clarifications about these possibilities.
Download and share the new EC Regulatory Guidance here