Name: Financial Instruments delivering ESI Funds, Athens, 3 December 2015
Start: 2015-12-03
Location: Athens

Abstract

The fi-compass series of advisory seminars in Member States included an event in Greece on 3 December 2015.

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 Greece;
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 Athens 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

Picture: Zoe Georgopoulou, Head of NSRF and State Aid Service, National Coordination Authority, Ministry of Finance, Greece

On 3 December 2015, financial instruments delivering ESI Funds were discussed at a seminar in Athens, Greece. This seminar was one of our most well-attended Member States events so far and it formed part of a series of national seminars that will be conducted in 24 EU Member States into 2016.

More than 130 people participated in the seminar in Athens, including representatives from managing authorities and audit authorities, as well as from the banking and consultancy sectors.

Picture: Joanna Wardzińska, Social and Economic Investment Company TISE S.A., Poland; Nikos Mantzoufas, Ministry of Economy, Development and Tourism, Greece; Eirini Botonaki, European Investment Fund

The opening speech was given by Zoe Georgopoulou, the Head of NSRF and State Aid Service at the National Coordination Authority, in the Ministry of Finance, Greece. Following the opening speech, the JEREMIE Venture Capital Funds supporting Greek entrepreneurship was presented. In addition, participants had the opportunity to learn more about the JESSICA implementation in Greece as well as the Loan Fund for Social Economy under the ESF in Poland.

The European Commission’s Directorate-General for Regional and Urban Policy presented the Investment Plan for Europe along with 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 seminar in Greece 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 participants

The success of the seminar demonstrated that there is a very high interest in financial instruments in Greece. 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 Greece.

Programme

	Title	Speakers
	JEREMIE VC Funds supporting Greek entrepreneurship	Eirini Botonaki, European Investment Fund
	Financing infrastructure - Lessons learnt from JESSICA implementation	Nikos Mantzoufas, Ministry of Economy, Development and Tourism, Greece
	Loan Fund for Social Economy (European Social Fund)	Joanna Wardzińska, Social and Economic Investment Company TISE S.A., Poland
	Opportunities offered by the 2014-20 framework	Georges Kolivas and Albena Taneva, European Commission (DG REGIO)
	fi-compass advisory support	Christos Pouris, European Investment Bank