APPLICATION OF ESIF FINANCIAL INSTRUMENTS

Ivo Dimitrov

Abstract


The study presents a baseline study of the application of ESIF financial instruments in five sectors, showing that there is a potential for additional financial instruments in the five sectors reviewed. Further efforts are needed to raise the level of interest of governing bodies in using financial instruments as delivery mechanisms in specific sectors. In part, this can be achieved through greater knowledge sharing and promotion of existing examples. The programming process also represents a significant opportunity to ensure the development of operational programs that offer sufficient flexibility to adapt financial instruments, as well as the possibility of multi-sectoral approaches to financial instruments. The new opportunities offered by the Common Provisions Regulation (CPR) for the programming period 2021 2027, as a combination with grants, should also be encouraged as much as possible in view of the specific positive effect expected in these sectors. The combination of financial instruments and grants has the potential to transform the use of financial instruments in the 2021-2027 programming period.

Keywords


European Structural and Investment Funds (ESIF), financial instruments, financing

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References


European Structural and Investment Funds Guidance for Member States and Programme Authorities CPR_37_7_8_9 Combination of support from a financial instrument with other forms of support. Published on 11 September 2015. Updated on 28 August 2020: https://www.fi-compass.eu/publication/ec-regulatory-guidance/european-structural-and-investment-funds-guidance-member-states

fi-compass Stocktaking Study on financial instruments by sector published. Published on 10 June 2020: https://www.fi-compass.eu/news/2020/06/fi-compass-stocktaking-study-financial-instruments-sector-published

New factsheet on combination of financial instruments and grants. Published on 19 May 2021: https://www.fi-compass.eu/news/2021/05/new-factsheet-combination-financial-instruments-and-grants

Regulation (EU) 2021/1060 of the European Parliament and of the Council of 24 June 2021 laying down common provisions on the European Regional Development Fund, the European Social Fund Plus, the Cohesion Fund, the Just Transition Fund and the European Maritime, Fisheries and Aquaculture Fund and financial rules for those and for the Asylum, Migration and Integration Fund, the Internal Security Fund and the Instrument for Financial Support for Border Management and Visa Policy: https://eur-lex.europa.eu/legal-content/EN/TXT/?uri=CELEX%3A32021R1060


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