New data confirms growth in financial instruments
This updated annotated template for reporting on financial instruments according to Article 46 Common Provisions Regulation (CPR) includes instructions on how to fill-in the required and optional fields in the report on financial instruments (Section 8 in the annual implementation report to be submitted through the System for Fund Management in the European Union (SFC)).
An updated Guidance note has been published by the European Commission on State aid in ESIF financial instruments in the 2014-2020 programming period. Following the adoption of the Omnibus Regulation, the Guidance has been updated to reflect corresponding changes in substance, terminology and legal references.
The UPDATED Staff Working Document aims to facilitate the application of State aid rules in the field of financial instruments and to point to different possibilities of achieving State aid compliance. The updated guidance reflects the changes introduced by the Omnibus Regulation and includes a new Annex providing practical explanations and examples relating to common questions raised by stakeholders.
Financial instruments under ESF have long been supporting Social Economy Enterprises in Poland. This updated case study focuses on the National Fund for Social Entrepreneurship, showing its development over two programming periods, and its continuous importance in providing affordable finance and soft support to the Polish social economy. Furthermore, the updated case study reports on the fast adaptation of the financial instrument in the wake of the Covid-19 outbreak, and its consequent ability to respond to changed needs.
Crowdfunding increasingly represents an alternative and reliable source of finance for SMEs and micro enterprises, as well as a first sounding board for innovative business ideas and for social impact projects. Often aligned with ESF priorities and target groups, crowdfunding can benefit from financial instruments and improve the conditions of its financing offer. In the post COVID-19 scenario, crowdfunding could play a key role in underpinning the economic recovery and leaving no one behind.