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 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.
Capacity building through knowledge exchange is an important part of the fi-compass mandate. This includes identifying and disseminating knowhow that has been developed by experienced practitioners who are involved in the design and implementation of financial instruments funded by European Structural and Investment Funds (ESIF).
On 3 February 2016, fi-compass organised a workshop on Microfinance under the European Social Fund (ESF) which took place in Brussels. This workshop was attended by more than 100 participants including policy makers, representatives from managing authorities and microfinance providers.
Microfinance instruments can be useful for supporting microenterprises, unemployed workers, and citizens suffering from disadvantages. By helping to improve access to more affordable finance, these instruments remain particularly useful for supporting self-employment, business start-ups, integration and employment of vulnerable groups, as well as other social policies.
On 2 February 2016, fi-compass organised a high level conference on financial instruments under the ESF. This flagship event was attended by over 180 people including policy makers, managing authorities and audit bodies, as well as delegates from the banking and consultancy sectors.
fi-compass has released a new case study about a financial instrument co-financed by the European Social Fund (ESF) that provides loans and advice to socially-oriented enterprises across Poland. This is a valuable example of how a managing authority, here the Polish Ministry of Infrastructure and Development, and partners have established an instrument to promote sustainable, quality employment, supporting labour mobility and social inclusion, while also combating poverty and discrimination.
Financial instruments co-funded by the European Social Fund (ESF) can be used to invest in the growth and development of EU citizens and their skills - thereby promoting employment and social inclusion. More Member States are starting to use financial instruments for social development purposes, and fi-compass is involved with helping to improve understanding about opportunities from ESF financial instruments.
Our factsheets introducing financial instruments for the different European Structural and Investment Funds are now available in Bulgarian, Croatian, Czech, Danish, Dutch, English, Estonian, Finnish, French, German, Greek, Hungarian, Italian, Latvian, Lithuanian, Maltese, Polish, Portuguese, Romanian, Slovakian, Slovenian and Spanish. These selected fi-compass materials have been translated into various EU languages to help deepen people’s understanding of the opportunities that ESIF financial instruments can offer.
New European Commission guidance note on management costs and fees for financial instruments implemented according to Article 38(4)(b)
Financial instruments are a form of support whose success hinges on the performance of bodies implementing them. One of the decisive parameters to align the interests of the managing authorities and the bodies implementing financial instruments is the remuneration paid to the latter in the form of performance-based management costs and fees.
Known in the previous programming period as Joint Action to Support Microfinance Institutions in Europe (JASMINE), EaSI Technical Assistance involves a range of support activities for European microcredit providers. Now accessible under the umbrella of fi-compass EaSI Technical Assistance will help build up the institutional capacity of microcredit providers thanks to various forms of assistance including business development tools for the wider European microcredit sector.