| Author (Corporate) | European Commission |
|---|---|
| Series Title | COM |
| Series Details | (2014) 686 final (30.10.14) |
| Publication Date | 30/10/2014 |
| Content Type | Policy-making, Report |
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Financial instruments, including loans or guarantees with greater risk capacity, represent a smart way to finance the real economy, and boost growth and employment. They can achieve financial leverage (multiplying scarce budgetary resources by attracting private and public funds to support EU policy objectives), policy leverage (incentivising entrusted entities and financial intermediaries to pursue EU policy objectives through alignment of interest), and institutional leverage (benefiting from the expertise of the actors involved in the implementation chain). In addition these instruments, implemented in partnership with public and private institutions, address market failures in the provision of external financing (e.g. to SMEs) and avoid any crowding-out of private financing. Important outcomes have been achieved through the use of Financial Instruments in the years 2007-2013, and they will play an even more significant role in the 2014-2020 Multi-annual Financial Framework (MFF). The budgetary authorities have expressed their political commitment and increased the necessary resources. Furthermore, the Financial Regulation has been extended with a dedicated chapter, setting up the appropriate regulatory framework for Financial Instruments' design, management and reporting. This report is the first to be prepared under the new requirements of the Financial Regulation. It is intended to provide an informative overview of how the taxpayer's money has been used and of the progress made in the implementation of the Financial Instruments as of 31 December 2013. |
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| Source Link | http://eur-lex.europa.eu/legal-content/EN/TXT/?uri=COM:2014:686:FIN |
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| Subject Categories | Economic and Financial Affairs |
| Countries / Regions | Europe |
