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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.
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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
Financial instruments using the European Social Fund
can support a wide range of financially viable
investment projects
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Case Studies

Also: examples of good practice

Case study (Financial instruments for rural development 2014–2020, Occitanie/Pyrénées-Méditerranée, France)

This case study features a financial instrument from France's Occitanie/Pyrénées-Méditerranée Region that uses the European Agricultural Fund for Rural Development (EAFRD). It is implemented through a fund of funds structure (named FOSTER TPE-PME) which aims at improving funding conditions for final recipients through financial instruments, including First Loss Portfolio Guarantees (FLPG) supporting the agricultural, food and forestry sectors.

Case study (Innovation Fund, East Netherlands)

This study explains how the Innovation Fund in East Netherlands, co-funded by the European Regional Development Fund (ERDF) in the 2007-2013 programming period, addressed a regional market gap for access to finance. Target recipients were small and medium-sized enterprises (SMEs) in the food, health and technology sectors, with no track record and in the early development stage. The fund manager, Participatiemaatschappij Oost (PPM Oost), provided equity and loans combined with non-financial support such as networking, training and coaching.

Case study (Financial Engineering Instruments for SMEs, Slovenia)

This study describes how European Union co-financed financial instruments mixed with grants contributed to a better business environment under the ‘Programme of Financial Engineering Instruments for small and medium-sized enterprises’.

Case study (CAP Troisième Révolution Industrielle Nord-Pas de Calais, France)

This case study illustrates CAP Troisième Révolution Industrielle (CAP TRI), a financial instrument supported by the 2014-2020 European Regional Development Fund (ERDF) Operational Programme in the region of Nord‑Pas de Calais in France.

Case study (Mikromezzaninfonds, Germany)

This case study shows that it is possible to promote social inclusion through mezzanine capital if a funding gap for this type of finance is clearly identified, and financial intermediaries are experienced and well-established in the relevant areas.

Case study (Central Denmark Entrepreneurship Fund, Denmark)

This case study illustrates how the Central Denmark Entrepreneurship Fund (Midtjysk Iværksætterfond ‑ MIF), a financial instrument established in 2012 with European Social Fund (ESF), national public and private funding, supported new, knowledge‑intensive and innovative businesses in the Central Denmark region.

Case study (Loans for rural development 2014-2020, Estonia)

This case study, featuring the 2014-2020 European Agricultural Fund for Rural Development, describes an Estonian loan fund supporting micro, small and medium-sized enterprises in the agricultural sector and wider rural economy. Using EUR 36 million of Estonian Rural Development Programme funds, this instrument seeks to fill a market gap in financing for rural enterprises, whose access to credit is limited by unfavourable conditions such as high interest rates, short repayment periods and high collateral requirements.

Case study (Creating new jobs and entrepreneurship through financial instruments Mazovia - Poland)

This case study reviews the financial instrument ‘Creating new jobs and entrepreneurship in Poland’s Mazovia region’, a pilot scheme implemented under Poland’s European Social Fund (ESF) Human Capital Operational Programme. The financial instrument has provided loans of up to EUR 12 500 as well as training and business advice to Mazovian residents who intended to start a business but had limited access to capital. Loans have been provided at below market interest rates with reasonable collateral requirements.

Case study (JEREMIE Acceleration and Seed instrument in Bulgaria)

This case study features the equity instrument from the Bulgarian JEREMIE Holding Fund, co‑financed by the European Regional Development Fund (ERDF). The investment strategy of the Bulgarian JEREMIE Holding Fund addresses financing needs of Bulgarian small and medium‑sized enterprises at all stages of business development, through debt and guarantees, as well as equity and quasi‑equity products in combination with non‑financial support. The instrument, worth EUR 21 million, provided start‑ups with accelerator services and seed investments of up to EUR 200 000.

Case study (Loan fund INNODEM2 - Belgium)

The Belgian INNODEM2 loan fund, co‑financed by the European Regional Development Fund, addressed creditor risk aversion towards small and medium‑sized enterprises (SMEs) in the Liège province by using advantageous loans to support diversification and innovation.