Fifth annual EU conference on EAFRD financial instruments for agriculture and rural development in 2014-2020

The fi-compass ‘Fifth annual EU conference on EAFRD financial instruments for agriculture and rural development in 2014-2020’ organised by the European Commission, Directorate-General for Agriculture and Rural Development (DG AGRI), in partnership with the European Investment Bank (EIB), took place in Bucharest on 4-5 June 2019, during the Romanian Presidency of the Council of the EU.

The conference attracted over 200 participants from 19 Member States, who came to hear and exchange experience on the EAFRD supported financial instruments in developing agricultural and agri-food economies.

The conference was opened by Phil Hogan, European Commissioner for Agriculture and Rural Development, and Petre Daea, Minister of Agriculture and Rural Development, Romanian Presidency. Commissioner Hogan presented the latest policy developments regarding financial instruments in support of agriculture and rural development, and announced the launch of a new initiative for supporting rural infrastructure investments and smart villages. Minister Daea highlighted the importance to facilitate access to finance and how financial instruments represent an innovative way to support Member States and allow them to use EAFRD resources more efficiently.

During the event, both Phil Hogan and Petre Daea gave a short interview about the use and advantages of EAFRD financial instruments.

• Interview of Phil Hogan, European Commissioner for Agriculture and Rural Development
• Interview of Petre Daea, Minister of Agriculture and Rural Development, Romanian Presidency

Silvia Michelini, Director of DG Agriculture and Rural Development, European Commission, underlined the importance for managing authorities to continue undertaking ex-ante assessments, as it is key in identifying financing gaps and setting up financial instruments.

Christoph Kuhn, Director Mandate Management, Operations Directorate, European Investment Bank, gave emphasis on the pivotal role of the EIB Group in improving the efficient use of public funds through financial instruments. Marco Marrone, Deputy Director Mandate Management, European Investment Fund, further elaborated on the complementarity between grants and financial instruments and the important role that financial instruments will continue to play in the next multiannual financial framework.

Day one was concluded with a presentation of the Romanian EAFRD financial instrument and followed by a panel discussion with the managing authority, the European Investment Fund (EIF), representatives of two financial intermediaries involved in the implementation of the instrument, and a final recipient, who shared his experience receiving support under the financial instrument.
 

The second day of the conference was opened by Florentina Tudor, General Director of the Managing Authority at the Romanian Ministry of Agriculture and Rural Development, who gave an overview of the Romanian experience with EAFRD financial instruments.

Speakers from the European Commission then presented:

• progress made by the EU Member States in the preparation of their CAP Strategic Plans in the framework of the Common Agriculture Policy post-2020, and the role of financial instruments;
• the new InvestEU that bundles different EU loan and guarantee instruments under one single fund; and
• the new DG AGRI-EIB pilot technical assistance initiative aimed for managing authorities exploring the opportunities to support rural infrastructure through EAFRD financial instruments.

The remainder of the second day focused on practical examples of EAFRD financial instruments implemented in a number of Member States and regions. Representatives from Latvia, Czech Republic, Croatia, Castile and León (Spain) and Occitanie Region (France) presented advances made and success stories connected with their EAFRD financial instruments.

Peter McGoldrick, Economist at EIB, presented the results from the latest EIB Municipal Investment survey outlining the infrastructure financing needs in small municipalities and in rural areas. Representative from the Managing Authority of Sardinia region, Italy, showed examples of small municipal projects supported through the JESSICA fund in Sardinia.Nikos Mantzoufas from the Greek Ministry of Economy and Development then presented how Greece has managed to overcome the digital divide in remote and sparsely populated rural areas by financing broadband Network Development in Rural ‘White Areas’ through the blending of EU grants and private capital financing in a Public-Private-Partnership scheme.

The two-day conference was concluded by Michael Pielke, Head of Unit of DG Agriculture and Rural Development, European Commission.