A new advisory publication has been released by fi-compass which explains the role that financial instruments for social enterprises can play in supporting Member States’ objectives for inclusion and employment. This factsheet, titled ‘Financial instruments working with social entrepreneurship’, is now available for downloading and sharing via the fi-compass website.
Financial instruments continue to be at the forefront of European Structural and Investment Funds (ESIF) policy developments. A new Communication from the European Commission on 'Taking stock of the Investment Plan for Europe and next steps' confirms a growing emphasis on using more ESIF financial instruments to deliver the EU’s Cohesion policy.
Previous news stories from fi-compass have highlighted the use of financial instruments from the European Structural and Investment Funds (ESI Funds) in combination with complementary instruments from the European Fund for Strategic Investments (EFSI). News about the European Commission’s guidelines on combining ESIF and EFSI have also been featured for fi-compass stakeholders. A summary of these guidelines is available in 23 EU languages. They explain that EFSI can invest side-by-side with ESI Funds in Member States to help mobilise large financial volumes to generate growth and create jobs.
The annual Microfinance Centre (MFC) Conference is a key international event for microfinance stakeholders and this year the MFC Conference is taking place in Albania. Support from fi-compass EaSI TA will be involved at the event which is taking place in Tirana from 22-24 June.
European Microfinance Network Annual Conference: ‘Shaping European Microfinance: Who, What, and For Whom?’
The European Microfinance Network (EMN) will hold its 13th Annual Conference in Warsaw (Poland) on the 16th and 17th June 2016. It is the conference for stakeholders of the European microfinance sector and about 250 delegates are expected to attend, including EMN member organisations, experts, and representatives from other institutions active in the microfinance sector.
Sharing knowledge and experience about financial instruments in action is a central part of the fi-compass remit. Such networking happens through information events and written case studies. One example of this peer exchange refers to lessons learned from using microcredit in Italy’s Marche region. Here, a microfinance instrument has been successfully promoting social inclusion using microcredit and a guarantee fund that can also be combined with grants and business mentoring advice. This approaches uses co-finance from both the European Regional Development Fund (ERDF) and the European Social Fund (ESF).
Financial instruments for agriculture and rural development will be the focus of two new macro-regional fi-compass seminars that are being organised in Spain and Italy. The first of these events will take place in Madrid on May 31st and Rome will host the second seminar on June 13th.
Member States can use the European Social Fund (ESF) to support financial instruments such as loans, guarantees or equity products. These opportunities can help to improve access to finance for organisations, enterprises or individuals in ways that create both financial and social benefits and contribute to the ESF thematic objectives and Europe 2020 targets. Measuring social as well as financial returns is a key element of Social Impact Investment (SII).
Small and Medium sized Enterprises (SMEs) are among the most common group of final recipients for financial instruments using the European Structural and Investment Funds (ESIF). Awareness-raising about opportunities for SMEs from ESIF financial instruments happens at different levels and locally-based advice is beneficial.
New summary (in 23 languages) of guidelines on combining European Structural and Investment Funds with the European Fund for Strategic Investments
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.