This document aims to describe models Managing Authorities (MAs) may use to support energy efficiency projects that combine grants with loans in a single financial instrument operation. The model financial instruments are intended to provide a non-exhaustive insight into the potential for MAs to use the new flexibilities in Article 58 of the Common Provisions Regulation (CPR).
This case study describes the set-up and implementation of a financial instrument under the Rural Development Programme (RDP) 2014-2020 in Croatia aimed at supporting access to funding for the agricultural sector. The instrument includes micro and small loans for rural development, and third financial product that was added during the COVID-19 crisis – micro working capital loans.
This case study covers two financial instruments implemented in Bulgaria under the Operational Programme Human Resource Development (HRDOP): a Risk sharing micro-finance facility and a Capped portfolio guarantee for microloans. Both instruments target Start-ups, included owned and managed by youths under 29, disabled people and unemployed people and social enterprises. The case study explores Bulgaria’s experience with ESF financial instruments, from the Programme’s inception in May 2015 to January 2022. The document also provides a picture of the process of transitioning from a grant-only culture to financial instruments.
This document aims to describe a model financial instrument that managing authorities may use for quasi-equity financial instruments co-financed with shared management funds. The model financial instruments are intended to provide a number of examples pointing to the potential for managing authorities to use quasi-equity financial instruments in the 2021-2027 programming period.
This case study presents Alter’NA, the European Agricultural Fund for Rural Development (EAFRD) financial instrument, introduced in the Region of Nouvelle-Aquitaine in France with resources from the Rural Development Programme (RDP) 2014-2020 (incl. EUR 18.55 million of EAFRD and EUR 16.45 million national co-financing) and up to EUR 6 million from the European Fund for Strategic Investment (EFSI). Thus, becoming the first financial instrument in Europe implemented under the EAFRD-EFSI Initiative.
The Fund Manager of Financial Instruments in Bulgaria (FMFIB) is a Holding Fund that manages EU shared management resources through 13 different financial instruments on behalf of five Bulgarian managing authorities. A robust organisational structure has been set up which has allowed specialist expertise to be recruited and retained. This has allowed standardised procedures to be developed, for example in connection with selection, monitoring and audit, securing economies of scale and ensuring experience gained with one financial instrument to benefit future operations.