1. SMEs Seminar. 14 March 2014, Barcelona DG Regional and Urban Policy
Financial Instruments supported by the European Structural and Investment (ESI) Funds in
SMEs Seminar. 14 March 2014, Barcelona
Andrea Mairate.
DG Regional and Urban Policy
European Commission

2. Financial Instruments
Definition:
measures of financial support provided on a complementary basis from the budget in order to address one or more specific policy objectives of the Union.
Such instruments may take the form of equity or quasi-equity investments, loans or guarantees, or other risk-sharing instruments, and may, where appropriate, be combined with grants.

3. Financial Instruments
Advantages:
Efficiency gains due to revolving funds (remain in the programme area)
Leverage of resources, increase of impact of ESIF programmes
Financing provided before investment takes place (different from grants)
Better quality of projects (investment must be repaid)
Incentives to use FIs as alternative to grants (move away from "grant dependency" culture)

5. Financial Instruments in SMEs (at year end 2012)
EUR 4.5 billion of SFs & national resources already disbursed to enterprises, mainly through loan and guarantee products
More than of SMEs and micro-enterprises supported
At least of jobs created through FIs;

7. Financial instruments 2014-2020
EUROPEAN COUNCIL 24/25 OCTOBER 2013 – CONCLUSIONS:
The programming negotiations of the European Structural and Investment Funds (ESIF) should be used to:
Significantly increase the overall EU support to leverage-based financial instruments for SMEs in , while at least doubling support in countries where conditions remain tight.
These instruments should be designed in a way which limits market fragmentation, ensures high leverage effects and quick uptake by the SMEs. This will help concentrate the funds adequately and expand the volume of new loans to SMEs.

8. Financial Instruments 2014-2020
2.Centrally managed by COM (Financial Regulation)
1.Shared Management with MS (Common Provisions Regulation)
Horizon 2020
Equity and Risk Sharing Instruments
European Structural and Investment Funds
EU level (central management)
National/regional instruments (shared management)
Off-the shelf FIs
Tailor made FIs
Significant higher amounts than currently!
Research, Development Innovation
Growth, Jobs and Social Cohesion
Competitiveness & SME (COSME)
Equity & guarantees
Creative Europe
Guarantee Facility
Employment and social innovation (EaSI)
Erasmus+
Guarantee Facility
Infrastructure
Connecting Europe Facility (CEF)
Risk sharing (e.g. project bonds) and equity instruments

9. Thank you for your attention