Member States seminar series: Cyprus

A new European Commission Guidance note has been published to clarify how Member States should deal with interest or other gains generated from the investment of European Structural and Investment Funds (ESIF) contributions to financial instruments. In the context of ESIF, the term 'treasury management' is used in relation to Article 43 of the Common provisions regulation which provides for investing the ESIF contribution to a financial instrument following the principles of sound financial management, and regulates the use of interest and other gains generated thereto.

The Juncker Commission’s top priority is to get Europe growing again and to increase the number of jobs without creating new debt. The European Fund for Strategic Investments (EFSI) – the heart of the Investment Plan for Europe - and European Structural and Investment Funds (ESI Funds) both play a crucial role in creating jobs and growth. The Commission, in partnership with the European Investment Bank (EIB), has today published a new brochure that explains how to best combine EFSI and ESI Funds. This brochure is designed to help local authorities and project promoters make full use of the opportunities from these two instruments, which have been designed in a different but complementary way in terms of rationale, design, and legislative framework. They reinforce each other.