1 Workshop I - Introduction: Monitoring and evaluation (M+E) financial engineering instruments for SMEs 5 th Plenary Meeting JEREMIE Networking Platform Brussels, 20 May 2011 DG REGIO D3 - Financial engineering, major projects Joanna Mouliou

2 Because of the specific nature of financial engineering instruments, Because MS and regions are gathering more experience with JEREMIE financial instruments and they come up with more specific demands, Because certain issues discussed in COCOF meetings require a specific follow up, Because you asked for it. Why a New Structure of the JEREMIE Networking Platform meeting?

3 What to achieve with the New Structure of the JEREMIE N.P. meeting? To built up a strong collaboration with you To adapt a tailor made structure according to your needs (agree with you the subjects for the meetings – tailor made meetings) To increase the number of subjects to be discussed with two or more workshops running in parallel.

4 What to achieve with the New Structure of the JEREMIE N.P. meeting? To increase the added value of the meetings as you can form the composition of the groups of participants (workshops with mixed participants from Managing Authorities, Holding Funds and/or other Financial Intermediaries, upon your request) To encourage your active participation in round table discussions (you will be the main actors of meetings with presentations and exchange of ideas with your peers)

5 Why "M+E" as the main topic of this meeting? Fifth Report on economic, social & territorial cohesion & EU Budget review / Growing emphasis on performance orientation of Cohesion Policy / through: "M+E" tools Council Regulation (EC) No 1083/2006: –Annual Implementation Report (AIR) for each programme –National Strategic Reports (NSR)s in 2009 & 2012 –ECs Strategic Reports in COCOF – Monitoring Template: EC: to consolidate aggregate monitoring information provided by M.As for: global assessment of the performance of FEIs supported under Structural Funds supported Programmes.

6 Monitoring & Evaluation are two different processes Monitoring observes and reports on whether the desired outputs are occurring and whether implementation is on track It is an observation of the current situation (achieved outputs, progress towards intended results). Example: I want to know how many SMEs are now financed through JEREMIE in HU with the aim to support innovation.

7 Monitoring & Evaluation are two different processes MONITORING: OPs under Cohesion Policy are implemented under multilevel governance (different actors in the system). The Commission needs to aggregate information about Financial Engineering Instruments. Reason for Monitoring Templates report. Need to establish common indicators to facilitate dialogue and transparency.

8 Monitoring & Evaluation are two different processes EVALUATION (an issue to discuss and explore at the next meeting): - is an inquiry into the non observable. - it answers the following two questions: -Does it work? (results occurred because of a public intervention, or because of external factors?) -If it does / doesnt work, why?

9 MONITORING TEMPLATE REPORT The specific nature of financial engineering instruments requires a specific "M+E" process, In the absence of formal reporting obligations, MAs have been requested to report annually on FEI implementation on a voluntary basis (Annex II, COCOF EN), –Submission of reports by MS by 31 May 2011, –Analysis of submitted reports in June/July 2011, –Dissemination of key findings to MS/MAs around September 2011.

10 MONITORING TEMPLATE REPORT Provide MAs with a standard tool for the monitoring of FEIs at various levels Report on –Financial progress –Outputs delivered (achievements against output indicators) –Progress towards desired results (changes in result indicators)

11 UnitName NumberNumber of SMEs receiving financial support in a form of loans / venture capital NumberNumber of SMEs receiving non-financial support NumberNumber of new SMEs supported EURPrivate / Public investment matching EU support for SMEs (loans, venture capital) NumberNumber of reported jobs created in assisted SMEs A clear definition for each Indicator is needed Examples of output Financial Indicators for Productive Investment in SMEs

12 Speakers Krisztina SZABO EDOP MA, NDA Hungary – M.A. Pascal VOULTON SOFIMAC Partners – Auvergne – F.I. Álvaro NAVARRO IDEA de Andalusia, Spain – H.F. Workshop "M+E" FEIs for SMEs Jurgita KARCIAUSKAITE, Ministry of Finance Lithuania – M.A.

13 Thank you for your attention For further information: Website: DG REGIO – Unit D3 – Financial engineering, major projects