Name: Financial Instruments delivering ESI Funds, Lisbon, 18 January 2016
Start: 2016-01-18
Location: Lisbon

Abstract

The fi-compass series of advisory seminars in Member States included an event in Portugal on 18 January 2016.

The seminar aimed to:

provide ministries, managing authorities and other relevant ESIF stakeholders from the public and private sectors with an opportunity to learn more about the advantages, features and suitability of financial instruments in delivering ESIF 2014-2020 objectives with a specific focus on the thematic priorities of Portugal;
provide an opportunity to learn about and discuss in depth the technical challenges that the stakeholders are facing with regard to the design and set up of financial instruments;
offer support for Member States and managing authorities by introducing relevant fi-compass learning material.

The seminar in Lisbon featured case studies on financial instruments; the opportunities offered by the 2014-2020 regulatory framework; the advisory products issued by fi-compass to support the design and set-up of financial instruments. In addition, two hands-on oriented workshops were conducted with participants.

Programme

Overview

On 18 January 2016, financial instruments delivering ESI Funds were discussed at a seminar in Lisbon, Portugal. More than 130 people participated in this seminar, including representatives from managing authorities and audit authorities, as well as from the banking and consultancy sectors.

Picture: Nelson Souza, Secretary of State for Development and Cohesion, Portugal

This seminar is part of a series of national seminars that will be conducted in almost all EU Member States. The Lisbon seminar was one of the best-attended seminars to date.

The opening speech was given by Nelson Souza, Secretary of State for Development and Cohesion, Portugal. Following the opening speech, risk capital funds under ERDF were presented. In addition, participants had the opportunity to learn more about North West Evergreen Fund and loans for urban development under the ERDF, the London Green Fund and loans and equity for a low carbon economy under the ERDF as well as the role of non-ESIF co-financed guarantees for agriculture.

Picture: Oana-Andreea Dordain, DG REGIO, European Commission and event participant

The European Commission’s Directorate-General for Regional and Urban Policy and the European Commission’s Directorate-General for Agriculture and Rural Development talked about key novelties and official guidance concerning ESIF financial instruments and opportunities offered by the 2014-2020 framework. 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 seminar in Portugal focused on hands-on work following the life cycle of financial instruments with particular emphasis on the design phase. The participants actively 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.

Picture: Event overview

The success of the seminar demonstrated that there is a very high interest in financial instruments in Portugal. The delegates' discussions highlighted the potential for financial instruments to support job creation objectives. The advantages of financial instruments compared to grants were also appreciated by many, and this can help to encourage a move toward increased use of ESIF financial instruments in Portugal.

Programme

	Title	Speakers
	Portugal Ventures, Risk Capital Funds under ERDF	Teresa Fernandes, Member of the Portugal Ventures board
	North West Evergreen Fund, Loans for Urban Development under the ERDF	Desmond Gardner, Evergreen Director and Head of Legal Services Transport for Greater Manchester
	The London Green Fund, Loans and equity for a low carbon economy under the ERDF	Alex Conway, European Programmes Director, European Programmes Management Unit, Greater London Authority
	Role of non-ESIF co-financed Guarantees for Agriculture	Carlos Oliveira, General-Director from the Society of Mutual Guarantee, Portugal
	Opportunities offered by the 2014-20 framework	Ricardo Pinheiro and Oana-Andreea Dordain, DG REGIO, European Commission Nivelin Noev, DG AGRI, European Commission
	fi-compass advisory support	Kieran Kearney, European Investment Bank
	EC Guidance	Ricardo Pinheiro and Oana-Andreea Dordain, DG REGIO, European Commission