Title: sharing methodologies on FINancial ENgineering for enterprises
Type of intervention
Type of intervention: 1: Regional Initiative Project
Total budget: €1,852,860.33
Via Taramelli 12
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Contact Person: Paolo Zaggia
Phone: +39 (0)2 6074441
Fax: +39 (0)2 60744425
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FIN-EN project aims at enhancing co-operation between regional and national authorities across Europe on the methodologies and instruments used for implementing Financial Engineering operations in the framework of EU Structural Funds. Financial Engineering is an option offered to member states to reviewing the ERDF/ESF disbursement procedures by using financial instruments (as opposite to traditional grants) able to provide EU funding even after the 2013 deadline.The aim is to maximise the use of EU funds (by increasing the leverage effect and stimulate private co-investment and involvement), support a greater number of SMEs, speed the disbursement process, reinforcing the principle of subsidiarity and mutual accountability across EU through a direct involvement of beneficiaries in the operations.The project's main goal is to set up a wide and stable network where Managing Authorities from the Objectives areas "Convergence" and "Regional Competitiveness and Employment" would confront
themselves with respect to each phase of implementation of FE operations, as well as the underlying financial instruments, in order to find concrete solutions to similar problems.
FIN-EN proposes an integrated exchange of experiences where partners will present their most effective financial instruments and methodologies, will learn from other partners' experiences and formulate semplification proposals for future implementation, in view of the next SFs' programming period.
The activities are divided into three Components strictly inter-related:
- Project management and co-ordination: setting up of an internal structure to co-ordinate the partners' activities, inter-face with EU Programmes bodies, support technical and finacial activities and reporting processes.
- Exchange of experience: analysis, discussion and share of experiences in the implementation of the most relevant financial engineering instruments in the contest of:
1) "Thematic Working Groups", that will discuss
main issues, obstacles and challenges in the process of implementation of the financial products, for each phase of the FE operations
2) " Study Visits" where staff of different institutions will further co-operate through on-the field visits to learn more about experiences considered of special interest by the partners. The exchange will firstly take place in the context of a large partnership of 13 partners representing 13 different EU regions from Northern (DK, DE, LT, LV), Eastern (HU, SI), Southern (GR, IT, PT, ES) and Western (BE, FR, UK) member States.
3. Dissemination and information: once the best instruments and methologies have been shared at the internal level, the network will disseminate the achieved results at the external regional, national and EU level through: web-site, network promotion campaign and material (brochures, press releases, leaflets, flyers, e-newsletters, studies),seminars, conferences involving regional and EU authories in charge of regional policies
The FIN-EN project gathers together 13 partners coming from 13 different EU regions,representing mostly Managing Authorities and Holding Fund Managers of Financial Engineering Instruments (FEIs) from across Europe,whose aim is to enhance the exchange of experiences and debate on how Financial Funds may support FEIs (i.e. venture capital funds,guarantee funds and loan funds)for enterprises,primarily SMEs. During the project, partners have explored similar problems and faced with the implementation of FEIs to find shared solutions for the efficiency and effectiveness of implementing financial instruments in their own territory. During the project's lifetime many outputs have been realized: firstly, a smart grid mapping the main quantitative and qualitative features of the 45 mapped FEIs belonging to the FIN-EN partners (plus 3 observers belonging mostly to the European Association of Public Banks-P2: Investions Bank Berlin, Bulgarian Development Bank,Bank of Valletta)
that represented the starting point for the further analysis of the exchange of experiences.The investigation of possible good practices among partners has been developed throughout the phase of the Thematic Working Groups (TWGs) meetings and Study Visits (SV): 3 TWGs have been set up and organized around 4 meetings held in Auvergne Region (by P5),Andalusia (by P3),Lombardy Region (by LP),Hungary (by P4),each respectively in the TWGs coordinator's own region.Each TWG surveyed a number of good practices (specific set of technical features or aspects of a mapped FEI) addressed in a specific stage of the FEI life cycle:TWG1 grouped a set of good practices dealing with the programming phase of FEIs,TWG2 surveyed a set of good practices linked to the implementaion phase (most notably by type of FEIs), TWG3 dealt with good practices of the monitoring and evaluation stage of a FEI.The 3 SVs deepened the "desk" investigation and technical debates held in several TWGs meetings providing an
"on the field" experience in some good practices identified in Auvergne Region (SV organized by P5), Portugal (SV organized by P12), UK (SV organized by P13). At the end of this long phase a total of 43 good practices have been identified (only 15 good practices have been officialy transmitted to the INTERREG IVC Programme's database as maximum target, since they have been considered the most interesting by the partners). With the identification of the good practices the project entered into its core final phase: the seek of a "political" committment by regional/national policy makers in charge of the future 2014-2020 policies. This political commitment has implied the direct contacts with the relevant policy makers, the transfer of the project's main findings and recommendations and a committment (in various forms) to actually transfer some identified good practices in the regional/national policies. This final stage was accompanied by the realization of 11 implementation plans
(how the partners have possibly intended to exploit the projec's results or transfer the good practices) at regional/national level,and the finalization of the FEIs guidelines,the final output of the project mainly intended to address common problems and highlight tecnical solutions/recommendations to EC on the implementation of 2007-2013 and future generation of 2014-2020 FEIs.Throughout all the project a number of communication initiatives (coordinated by EAPB in strict collaboration with LP) have been undertaken to support and spread outside the results of FIN-EN: 2 Open Days' sessions on FIN-EN held in 2013 and 2014,several articles appeared in DG REGIO and other EU-related reviews,3 e-newsletters, 13 national brochures, 11 communication events held by PPs to disseminate the project, participation in several technical round tables and workshops, 2 videos,1 Mid-term conference (Auvergne),a final conference held in the Committee of the Regions (Brussels) on 5th December 2014.
|Institution, Town||Country||Region||Contact details|
|Finlombarda SpA, Milan||ITALY||Lombardia||+39 (0)2 6074441
|European Association of Public Banks and Funding Agencies, Brussels||BELGIUM||Région de Bruxelles-Capitale / Brussels Hoofdstedelijk Gewest||+32 22869060
|Agency for Innovation and Development of Andalusia IDEA, Seville||SPAIN||Andalucía||+34 955039842
|Operational Programme for Economic Development Managing Authority, Deputy State Secretariat Responsible for Implementing Economic Development Programs, formerly: "National Development Agency, Operational Programme for Economic Development Managing Authority", Budapest||HUNGARY||Kozep-Magyarorszag||+36-1-474-94-46
|Regional Council of Auvergne, Chamalières||FRANCE||Auvergne||+33 4 73 31 86 10
|SID Bank, Inc.Ljubljana, Ljubljana||SLOVENIA||Zahodna Slovenija||+38 6 1 200 75 30
|ALTUM, Riga||LATVIA||Latvija||+37 1 6777 4332
|Investment and Business Guarantees, Ltd.- INVEGA, Vilnius||LITHUANIA||Lietuva||+37 (0)52107516
|Central Denmark Region, Viborg||DENMARK||Midtjylland||+45 87285282
|Economic and infrastructure Hessen non-autonomous institution within the Landesbank Hessen -Thüringen Girozentrale - WIBank, Offenbach||GERMANY||Darmstadt||0049-69-9132-5728
|ETEAN S.A. (HELLENIC FUND FOR ENTREPRENEURSHIP AND DEVELOPMENT), ATHENS||GREECE||Attiki||+302103311201-4
|Managing Authority of COMPETE/POFC (MA COMPETE), LISBOA||PORTUGAL||Lisboa||+351 211548732
|Department for Communities and Local Government (DCLG), Warrington||UNITED KINGDOM||Cheshire||+44 (0) 03034446495