Financial Instruments delivering ESI Funds

On 10 November 2015, financial instruments delivering ESI Funds were discussed at a seminar in Prague, Czech Republic. This seminar was part of a series of seminars which will be conducted in 25 EU Member States into 2016.

Sixty-four people participated in the seminar in Prague, including representatives from managing authorities as well as from the banking and consultancy sectors.

Following the opening speech by Ms Olga Letáčková, Deputy Minister for Section Management, National Coordination Authority Section, practical experience on the use of financial instruments in the Czech Republic was presented. In addition, participants had the opportunity to learn more about the case of the London Green Fund in the United Kingdom.

The European Commission’s Directorate-General for Regional and Urban Policies presented key novelties and official guidance concerning ESIF financial instruments. This was complemented by a presentation from the European Investment Bank on how fi-compass can help Member States to advance with financial instruments. Two parallel workshops during the Prague seminar focused on hands-on work following the life cycle of financial instruments with particular emphasis on the design phase. The participants discussed possible approaches and their own practical experience with a number of crucial issues regarding designing financial instruments and concerning the market assessment needed for the ex-ante assessment.

The seminar showed that despite the challenging experience in the last programme period, financial instruments are progressing well within the Czech Republic’s ESIF implementation. The discussions highlighted the importance of starting early with the preparation of financial instruments and that more advisory services are needed for exploring the use of financial instruments with regard to specific topics and national legislation.