Financial Instruments under ESI Funds 2014-2020 INFORM meeting, 24 June 2015, Lille Bogna Filipiuk-Olteanu, REGIO.B3 European Commission
FINANCIAL INSTRUMENTS ARE MORE EFFICIENT REVOLVING EFFECT LEVERAGE ECONOMIC SUSTAINABILITY 2
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THE USE OF FINANCIAL INSTRUMENTS SHOULD OVERALL BE AT LEAST DOUBLED IN 2014-2020 (THE INVESTMENT PLAN FOR EUROPE) FINANCIAL INSTRUMENTS ARE NOT NEW IN COHESION POLICY AROUND 5% OF 2007-2013 OP ALLOCATIONS WERE FINANCIAL INSTRUMENTS 4
Financial Engineering Instruments 2007-2013 FEIs for enterprises, urban development and energy efficiency/renewable energy As of end 2013 there were 941 FEIs in 25 MS: 854 for enterprises ( 12.1 billion), 56 for urban development ( 1.5 billion) and 32 for energy efficiency & renewable energy ( 0.6 billion) 392 loan funds, 127 guarantee funds, 146 equity funds and 105 mixed funds 47% of 14.3 billion reached final recipients via 94,850 loans, 97,086 guarantees, 2,759 equity investments and 9,384 other products http://ec.europa.eu/regional_policy/thefunds/instruments/doc/summ ary_data_fei_2013.pdf 5
2014-2020 FRAMEWORK MORE COMPREHENSIVE AND WITH MORE OPTIONS ALL THEMATIC OBJECTIVES, ALL ESIF EX-ANTE ASSESSMENT PERFORMANCE-BASED OFF-THE-SHELF INSTRUMENTS, SME INITIATIVE 6
SUPPORT FOR MANAGING AUTHORITIES IS AVAILABLE fi-compass platform: www.fi-compass.eu Multi-region assistance call for proposals: http://ec.europa.eu/regional_policy/en/newsroo m/funding-opportunities/calls-for-proposal/ REGIO Peer-2-Peer: http://europa.eu/!xt39xp 7
fi-compass platform 8
A unique platform for advisory services on financial instruments under the ESIF and microfinance under the Programme for Employment and Social Innovation (EaSI) Provided by the European Commission in partnership with the European Investment Bank Designed to support ESIF managing authorities, EaSI microfinance providers and other interested parties, by providing practical know-how and learning tools on financial instruments: how-to manuals, factsheets for quick reference, e-learning modules, face-to-face training seminars and networking events. The fi-compass website will progressively become the knowledge hub for ESIF Financial Instruments. 9
Different types of events ESI Fund-specific seminars series of 3 events for each ESI- Fund in different EU locations, up to 120-150 participants; For ERDF took place in Brussels, Vienna and Warsaw in May/June Member State-specific events, 1 per MS, starting in September Registration to be gradually opened on fi-compass website
Next steps Continuously develop knowledge hub functionalities, social media presence and quarterly newsletter Preparation and delivery of all fi-compass events 2015/16 Step-up communication activities > more active stakeholder engagement Elaborate mid- to long-term capacity building strategy (with first pilot activities); subsequent roll-out Develop work programme 2016-17
multi-region assistance call 12
MRA call launched on 28 April 2015 Documents: Call for proposals Application form and budget form Model grant agreement including model reports Q&A Guide for applicants Deadline for applications: 31 July 2015 13
Objectives of the MRA call Facilitate a broadened use of FIs, in terms of amounts involved, geographical scope and thematic scope (innovative, new areas) in line with the objectives of the Investment Plan Incentivise bottom-up cooperation between regions from distinct Member States aimed at assessing possible use of financial instruments, exchange of practices and mutual learning Incentivise cooperation and tapping in the relevant expertise of financial institutions, such as International Financial Institutions, national promotional banks or others 14
Eligible grant actions Assessing the potential use of FIs supported by the ERDF, CF, ESF and/or EAFRD (combination possible) implementation of (a) concrete FI(s) is expected Covering at least 2 regions and are being submitted by at least 2 MAs/IBs from distinct MSs (exception if the application involves at least one cross-border or transnational programme) Targeting investment priorities that are specific to and shared by the applying regions Involving expertise of at least one IFIs or financial institution(s) covering with their activities the applying regions Ideally involving further relevant partners, e.g. academia 15
REGIO Peer-2-Peer 16
Key parameters QUALITY CONTROL of experts and exchanges (MAs/IBs) FLEXIBLE: Different types of exchanges based on Member States' needs LIGHT: Short-term expert exchanges with as little bureaucracy as possible RAPID: exchanges launched rapidly (e.g. within 2 months from approval of request) TARGETED: focused on concrete and specific topics Based on experience and infrastructure of TAIEX
TYPE OF EXCHANGES Expert missions Study visits Workshops 2-5 Days 2-5 Days 2 Days
TAIEX-REGIO PEER 2 PEER as Pilot Project Budget of EUR 500 000 Running 03/2015 8/2016 80-100 exchanges expected Results to be evaluated in 2016
Thank you for your attention! Q&A 20
THE EU INVESTMENT PLAN MOBILISING FINANCE FOR INVESTMENT MAKING FINANCE REACH THE REAL ECONOMY Strong boost to strategic investments Better access to investment finance for SMEs and mid-cap companies Strategic use of EU budget Better use of the European Structural and Investment Funds Project pipeline preparation and selection Technical assistance at all levels Strong cooperation between National Promotional Banks and the EIB Follow-up at global, EU, national and regional level, including outreach activities IMPROVED INVESTMENT ENVIRONMENT Predictability and quality of regulation Quality of national expenditure, tax systems and public administration New sources of long-term financing for the economy Removing non-financial, regulatory barriers in key sectors within our Single Market 21
EU guarantee EUR 16 bn* EUR 5 bn Possible other public and private contributions European Fund for Strategic Investments EUR 21 bn EUR 16 bn EUR 5 bn x 15 Long-term investments circa EUR 240 bn SMEs and mid-cap firms circa EUR 75 bn Total extra over 2015-17: circa EUR 315 bn**