Regional Policy ESIF : Technical Assistance Platform for financial instruments (TAP) DG Regional and Urban Policy, Unit B.3 Financial Instruments, IFI Relations

Main TA needs for designing, setting-up & implementing FIs in cohesion policy Set-up of FIs Design of FIs Implementation of FIs Exit / Winding-up of FIs advice on procurement and selection of bodies implementing FIs, development of business plans of FIs for thematic objectives, Drafting and conclusion of funding agreements, etc. advice on conducting ex-ante assessments, assessing market demand, policy fit, sector-specific investment strategies and products, development of implementation structures, identification of potential co-financing sources, State aid and procurement considerations, features and economic viability of target final recipients, etc. guidance on the investment process (identification, evaluation and selection of final recipients or projects), financing agreements with final recipients, financial management (treasury, disbursement, repayment, follow-on investments), cost and fee structures, detection and settlement of irregularities, monitoring, auditing, reporting, etc. advice on exit strategies, legacy requirements, situations of default, etc. Implementation cycle of FIs Horizontal Assistance Multi-region Assistance Programme- and instrument-specific assistacne TA and advisory needs at various stages of FI implementation Forms of delivering assistance

Two forms of assistance delivery under the TAP Multi-region assistance: initiated by CP stakeholders for the benefit of more than X managing authorities in a minimum number of Y MS (bottom up); paid by the EC on the basis of several open calls for project proposals to be organised by EC activities would typically include support for the development of FIs targeting development objectives or market failure that are shared by a number of regions (e.g. EE interventions in housing in CEE or cross-border initiatives (Baltics)). Initiated by EC Paid by EC Initiated by MA/IFIs/NFIs under the TAP Horizontal assistance: applicable to all MS and types of financial instruments initiated and financed by the EC (top- down) activities would typically include the exchange of best practice and the networking across MS, as well as trainings or guidance on common themes such as ex-ante assessments, public procurement, regulatory aspects concerning cohesion policy, possibly State aid, etc. European Commission TA Requested by MA TA Paid by MA Member States, managing authorities and other ESIF stakeholders Programme-specific assistance: services and guidance regarding the design, set-up and implementation of a specific FI within specific programme requested by managing authorities and financed by the MA from the TA budget of the programme involved. activities would typically include the formulation of sector and territory- specific investment strategies, the design of specific loan, equity or guarantee products or the development of procurement procedures. Any service provider Appropriate advisory service providers (IFIs, NFIs, other) MS-level support [outside the scope of the TA platform] MS/MA, ESIF stakeholders

EIB Group SUPERVISORY BOARD Member States, managing authorities and other ESIF stakeholders ADVISORY BOARD (EC; IFIs; independent experts) Advice on horizontal & multi-region assistance Multi-region Assistance EC internal contract management (REGIO DGA1.B.3) EXECUTIVE STRATEGY ADVISORY IMPLEMENTATION Proposal: EC management of TAP horizontal and multi-region assistance Advisory Service Provider … (IFI, NFI, other) Advisory Service Provider 2 (IFI, NFI, other) Agreement Project Proposals Horizontal Assistance Horizontal Assistance Multi-region Assistance EUROPEAN COMMISSION Individual agreements 1. Call for project proposal (identifying also service providers) 2. Agreement with advisory service provider for selected projects Agreement Direct award of one single multi- annual service contract Advisory Service Provider 1 (IFI, NFI, other) Co-ordination group (EC/EIB)

First messages from the public survey (1)  Three questions with sub-sections for which the number of responses ranges from 53 to 60  1. Thematic Objectives which are of interest for financial instruments:  The strongest interest for "3. Enhancing competitiveness of SMEs" with 58% followed by "1. Strengthening research, technological development and innovation" with 45% and "Supporting the shift to low-carbon economy in all sectors" with 45%.  The three areas with lowest interest are: "9. Promoting social inclusion and combating poverty" with 12%, "10. Investing in education, skills and lifelong learning" with 12% and "11. Enhancing institutional capacity and an efficient public administration" with 7%.  2. From whom the respondents received certain TA services in :  Design phase: the Commission/EIB Group Joint Initiatives played the most important role in delivering guidance on market assessments (29%) and together with Holding Funds on governance structures (21%).  Set-up and Implementation phases: Holding Funds at the pole position for all but "monitoring and auditing of FIs" where the Managing Authority is first (33%). In those phases, the role of the Commission/EIB Group Joint Initiatives is the highest for "assisting/managing the procurement process to select FI manager (19%) and the lowest in "apprising business plans/investment strategies" (9%) and "Negotiating agreements with project promoters" (7%).  Exit/winding up phase: advice on "exit strategies" and "legacy requirements" was received by most respondents from the MA (26%, 28% respectively) and "on how handle defaults and delayed payments" from the Holding Fund (26%). 5

First messages from the public survey (2)  3. How respondents think TA can be best provided by the TAP:  For all tasks in all phases there is a clear preference for the Horizontal Assistance (HA).  The shares of respondents preferring this option are more or less double as high as those for Multi-regional Assistance (MRA).  The smallest differences for the four phases can be found for "Guidance on specific issues related to the Thematic objectives" (41% HA vs. 36% MRA), "Guidance for the selection of Fund Managers" (50% HA vs. 33% MRA), "Guidance on business plan and application support for project types" (51% HA vs. 28% MRA) and "Advice on exit strategies" (68% TA vs. 25% MRA).  Next steps:  Full analysis of the survey results should be available soon  Discussion with the Member States experts today  Discussion with stakeholders on 20 June  Development of a catalogue of specific activities based on the results of the public survey by October (EIB study)  Conclusion of the necessary contractual arrangements for the Horizontal Assistance before end-2013: Horizontal Assistance to be operational as of 1 January 2014  Call for proposals for the Multi-regional Assistance to be launched by end

Regional Policy Thank you for your attention! DG Regional Policy – Directorate B, Policy 7