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Financial Instruments in Cohesion Policy DG REGIO, Open Days, Brussels, October 2013

Financial Instruments in Cohesion Policy DG REGIO, Open Days, Brussels, October 2013. Financial Instruments for SMEs- A regional example. Financial Instruments in Support of Regional Policy 2007 - 2013.

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Financial Instruments in Cohesion Policy DG REGIO, Open Days, Brussels, October 2013

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  1. Financial Instruments in Cohesion Policy DG REGIO, Open Days, Brussels, October 2013 Financial Instruments for SMEs- A regional example

  2. Financial Instruments in Support of Regional Policy 2007 - 2013

    Three areas of support by Financial Instruments (Fis) through European Regional Development Fund (ERDF) and European Social Fund (ESF) (NOT Cohesion Fund): Enterprises, including SMEs & micro enterprises; Sustainable urban development; Energy Efficiency (EE) & Renewable Energy sector (RES) in the building sector, including existing housing. FEI Implementation progress in EU Member States (as of 31.12.2012):

  3. Advantages of Fis vs. GrantsA Regional experience in 2007 – 2013 (Wielopolska)

    Investment instead of a non-refundable financing; Recycling of funds and creation of sustainable mechanism of regional support The leverage effect; Support for projects carried out jointly by the public and private sectors (JESSICA initiative); Benefits of professional Financial Institutions experience for the next financial perspective 2013.

  4. Financial Instruments in 2014 – 2020 expand across EU Programmes

    Shared Management with Member States (Common Provisions Regulation) Centrally managed by EU COM (Financial Regulation) Instruments under Structural and Cohesion Funds EU level (central management) National/regional instruments (shared management) Off-the shelf FIs Tailor made FIs Significant higher amounts than currently! Horizon 2020 Equity and Risk Sharing Instruments Research, Development Innovation Competitiveness & SME (COSME) Equity & guarantees Creative Europe Guarantee Facility Growth, Jobs and Social Cohesion Erasmus for all Guarantee Facility Social Change & Innovation Infrastructure Connecting Europe Facility (CEF) Risk sharing (e.g. project bonds) and equity instruments

  5. Financial Instruments for SMEsNational Vision (Scotland) for 2014 – 2020

    Significant Increase in the use of Fis to address market failures; Need for long term sustained intervention to underpin early stage markets; Interventions at market level (versus interest groupings); Long term planning versus short term expectations; Evergreen + long term sustainable funds.

  6. What’s new in the 2014 – 2020 Financial Instruments?

    Expansion to all thematic objectives & priorities foreseen by SF Operational Programmes (ERDF, ESF, Cohesion Fund, European Agriculture Fund for Rural Development (EAFRD), European Maritime Fisheries Fund (EMFF); More implementation options for managing authorities: Fisat national, regional, transnational or cross-border level (shared management: Tailor made / Off the shelf); Contribution to EU level Fisunder central management (ring-fencing); Ex-ante assessment to be carried out before launch of Fisoperation under the ESIF; Better combination of Fis& other forms of support; Incentives regarding EU co-financing rates; Phased contributions to Financial Intermediaries; More detailed rules.
  7. Implications for the new EU Financial Instruments Finalization of Common Provisions Regulation (CPR); Drafting of secondary legislation (envisaged Delegated Act and Implementing Act) on-going; adoption only after adoption of CPR; Development of ready-to-use "off-the-shelf" instruments on-going (to be laid down in Implementing Act); Concept for a Technical Assistance (TA) platform for financial instruments in cohesion policy 2014-2020 to be developed.
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