1. EPRC DESIGNING FINANCIAL INSTRUMENTS: BUILDING ON THE EXPERIENCE OF FIN-EN IN THE NEW FUNDING PERIOD Fiona Wishlade, European Policies Research Centre, University of Strathclyde, Glasgow FIN-EN final conference: “Financial Instruments in European Regional Policy”, Committee of the Regions, Brussels, 5 November 2014

2. EPRC FIN-EN guidelines Based on review of Thematic Reports Complemented by wider literature Interviews with partners Outputs reviewed with partners Consolidate experience into single output for wider reference 2 Fiona Wishlade, European Policies Research Centre, University of Strathclyde

3. EPRC Planning phase… 3 Fiona Wishlade, European Policies Research Centre, University of Strathclyde

4. EPRC Some undertook dedicated gap analyses Many used EIF FIN-EN lesson: quality gap analysis is crucial 2014-20: ex ante assessment obligatory 4 Fiona Wishlade, European Policies Research Centre, University of Strathclyde Finance gap

5. EPRC Structures Mainly context- driven FIN-EN lessons: –block of finance facilitates rapid implementation –holding funds can increase flexibility 2014-20 – additional option of EU level funds 5 Fiona Wishlade, European Policies Research Centre, University of Strathclyde

6. EPRC 6 Fiona Wishlade, European Policies Research Centre, University of Strathclyde Setting-up phase…

7. EPRC Appointing fund managers: lessons from FIN-EN Devote sufficient time and effort; make funding agreements attractive to intermediaries, and enforceable Communicating the strategy: lessons from FIN-EN Seminars, networking etc. effective at promoting deal flow, but social media useful for raising public profile and understanding Managing financial flows: lessons from FIN-EN Setting up time and quality of gap analysis affect capacity to predict flows; NOTE: significant change in 2014-20 on phasing of contributions 7 Fiona Wishlade, European Policies Research Centre, University of Strathclyde Selected lessons…

8. EPRC Combined instruments, including grants and soft support = flexible, tailored solutions Loans + simple option - potential for crowding out Guarantees + cost-effective - additionality difficult to determine Equity + management input and high returns -complex, risky, specialised 8 Fiona Wishlade, European Policies Research Centre, University of Strathclyde Types of instrument FIN-EN: no one- size fits all

9. EPRC 9 Fiona Wishlade, European Policies Research Centre, University of Strathclyde Operational phase…

10. EPRC Monitoring: lessons from FIN-EN identify all relevant actors from outset; explore real-time shared data options Evaluation: lessons from FIN-EN use interim evaluations to recalibrate instruments ESIF 2014-20: reporting requirements defined at outset – management verification requirement similar to FIN-EN ‘best practice’ 10 Fiona Wishlade, European Policies Research Centre, University of Strathclyde Selected lessons..

11. EPRC ESIF 2014-20: Ex ante assessment FIN-EN: Importance of gap analysis a clear lesson Gap analysis ESIF 2014-20: EU level FI; off-the shelf FIN-EN: context dependent; how useful now? Structures ESIF 2014-20: Phased payments in line with progress May restrict flexibility –FIN-EN ‘watchword’ Financial flows FI-TAP –support for establishing FI FIN-EN – major issue in 2007-13 for some, but not now Technical assistance 11 Fiona Wishlade, European Policies Research Centre, University of Strathclyde New FI context

12. EPRC Thank you! fiona.wishlade@strath.ac.uk European Policies Research Centre: http://www.eprc.strath.ac.uk/eprc/ 12 Fiona Wishlade, European Policies Research Centre, University of Strathclyde