When using European Structural and Investment Funds, managing authorities may implement financial instruments. The choice of financial instruments and of financial products must be determined in the ex‑ante assessment.
Financial instrument products include: loans, guarantees, equity and quasi-equity.
This short reference guide is addressed to managing authorities, financial intermediaries, final recipients and other stakeholders. It illustrates the key features and differences of the main financial products which may be offered by financial instruments, namely loans, guarantees, equity and quasi‑equity.