Courses

AutumnAcademy

Financial Instruments in ESI Funds.
Autumn Academy

Lisbon
€ 1900 (excl. VAT)
  • Description

    The policy framework for European Structural and Investment Funds emphasises the need for a more significant use of financial instruments (FIs) in the programming period 2014-2020. FIs are not limited to specific objectives anymore, but can be implemented within all funds and priorities. The overall goal is to improve the quality of projects supported with FIs, as the financial support must be repaid. The Commission supports the use of FIs by providing off-the-shelf financial instruments with standard terms and conditions, which are compatible with ESI Funds regulation and State Aid rules and seek to combine public and private resources (Commission Implementing Regulation 964/2014).
    With the growing importance of FIs it is of major relevance that all officials involved in their set-up and implementation.

     

    What you will learn in this course:

     

    • Lessons Learned in Programming Period 2014-2020
    • Cooperation between Fund of Funds Manager and Financial Intermediaries
    • Structuring and Implementation of Loan Instruments
    • Selection of Financial Intermediaries
    • Structuring and Implementation of Guarantee Instruments
    • Ensuring Compliance with State Aid
    • Problem Solving Session
    • Combination of Grants with FIs
    • Equity Fund Practice

     

    By the end of the course, you will:

     

    • The best practices and lessons learned.
    • Key projects will show you the way to further progress.
    • Key projects will show you the way to further progress.

    Who is this course for:

    • Managing Authorities
    • Certifying Authorities
    • Audit Authorities
    • Intermediate Bodies
    • Regional and local authorities
    • Court of Auditors
    • Beneficiaries of EU funded projects, i.e.: Private and public companies, associations, research institutes
    • Bodies working in European Territorial Cooperation
    • Public and private banks and other financial intermediaries
    • International, national and local associations and networks
    • Consultants and lawyers specialized on ESI Funds

     

    Course methodology

    We believe learning happens best with practical knowledge.

     

     

    After the completion of the first day of the Spring Academy we are inviting the participants to a walking tour of Lisbon From the heart of the city to the south bay, ending in the restaurant Ponto Finale with a common get together dinner. Our Guide will be an urban expert Jerome Crozy.

  • Programme

    Wednesday 23 October 2019

    • 09.00

      Welcome note by ESI Funds Academy

      Introduction of participants; tour de table

    • 09.30

      Introduction to the Topic and Lessons Learned in Programming Period 2014-2020

      • Policy Framework and Ex Ante Conditionalities
      • Objectives of the IF (ex-ante evaluation, financial gap, market failure)
      • Legal framework including main provisions of Omnibus Regulation
      • Types of financial instruments
      • Cooperation between Fund of Funds Manager and Managing Authorities
      • Lessons from the past experience for the next programming period
      • After 2020: the future proposals for the new MFF in the field of Financial Instruments

       

      Speaker,  Artur Bartoszewicz Ph.D., Warsaw School of Economics

    • 11.00

      Coffee Break

      Networking

    • 11.30

      Cooperation between Fund of Funds Manager and Financial Intermediaries

      • Role of ex-ante assessment and investment strategy
      • Legal requirements
      • Structure of Funding Agreement
      • Management Costs and Fees
      • How to ensure good cooperation between Fund of Funds and Financial Intermediaries
      • Recent Bulgarian or other national cases

       

      Speaker, Kamen Slavov, Head of Financial Instruments Fund Manager of Financial Instruments in Bulgaria (invited, tbc)

    • 13.00

      Lunch

    • 14.00

      Structuring and Implementation of Loan Instruments

      • General rules and relevant definitions
      • Main parameters to be decided
      • What is the difference between IF support and potential repayable financing on the market from grants? – analysis of similarities and differences between instruments
      • Investment risk assessment
      • Components of individual financial instruments (e.g. in the case of loans: margin, commission, interest rate, Jessica – social element)
      • Principle of project sustainability and results in IF
      • The concept of project sustainability under financial engineering instruments
      • Enforcement of funds
      • Risk of irregularities, most common situations and examples
      • Issues related to double financing or over-financing of investments
      • Structuring a loan financial instruments in practice – Polish cases including loans for: SMEs, social economy enterprises, energy modernisation in housing and in urban revitalisation)
      • Case studies

       

      Speaker, Artur Bartoszewicz Ph.D., Warsaw School of Economics

    • 15.00

      Selection of Financial Intermediaries

      • Main legislation and guidance
      • Types of potential financial intermediaries / financial institutions
      • Management models of financial engineering instruments and their assessment – direct and indirect
      • Selection financial intermediaries
      • Public procurement and the design of competitive calls
      • Case studies: EIB/EIF procedures; BGK (PL) procedures in practice

      Case study:
      How to write Terms of Reference and what to be aware of during a procurement process?

       

      Speaker, Artur Bartoszewicz Ph.D., Warsaw School of Economics

    • 16.30

      End of the official programme of day one

    • 18.30

      Common get together dinner

      Common get together dinner

      After the completion of the first day of the Autumn Academy we are inviting the participants to a walking tour of Lisbon From the heart of the city to the south bay, ending in the restaurant Ponto Finale with a common get together dinner

       

      Starting point: Praça do Comércio

      Restaurant Ponto Finale

      Our Guide will be an urban expert Jerome Crozy

    Thursday 24 October 2019

    • 09.00

      Structuring and Implementation of Guarantee Instruments

      • Guarantee Instruments
      • General rules
      • Key parameters of guarantee to be decided
      • Case study from Poland:Loan Portfolio Guarantee for Innovative SMEs – guarantee supported by interest rate subsidy

       

      Speaker, Artur Bartoszewicz Ph.D., Warsaw School of Economics

    • 10.30

      Coffee Break

    • 11.00

      Ensuring Compliance with State Aid Rules I

      • The concept of State aid and its application to ESI Funds and financial instruments
      • State aid regulations applicable for financial instruments
      • General Block Exemption Regulation (GBER) 2014-2020
      • What are the conditions for an exemption?
      • Specific requirements applying to FIs
      • Rules on Risk Finance

       

      Speaker, Andrzej Kaznowski

       

    • 12.30

      Lunch break

    • 13.30

      Ensuring Compliance with State Aid Rules II: Case Studies

      • How to use de minimis aid and off the shelf financial instruments
      • How to ensure that all aid is passed on to final beneficiaries

       

      Case Study

       

      Speaker, Andrzej Kaznowski

    • 15.00

      Problem Solving Session

      Send us your questions and cases in advance and discuss them

      with our experts

       

    • 16.00

      End of day two

    Friday 25 October 2019

    • 09.00

      Combination of Grants with FIs

      • Set-up of the combined support scheme – loan and grant (basic rules defined on EU and national level)
      • Embedment in the national support system (co-existence with grants and independent financial instruments)
      • Application under different thematic objectives, experiences
      • 2014-20 and the preparation for the model after 2020

       

      Angelina Todorova Head of Coordination Unit, Fund Manager of Financial Instruments in Bulgaria (tbc)

    • 10.30

      Coffee break

    • 11.00

      Equity Fund Practice

      • Equity Instruments
      • General rules
      • Key parameters to be decided
      • How does an equity fund work in terms of rules?

      (i.e. management fee, hurdle rate, carried)

      • The economics of a fund, including costs related to compliance

       

      Kamen Slavov, Head of Financial Instruments, Fund Manager of Financial Instruments in Bulgaria (tbc)

    • 12.00

      Lunch

    • 13.00

      Summary of Main Points, Lessons to be Drawn and Advice, and Final Comments by Participants

      Chair

      Kamen Slavov, Head of Financial Instruments, Fund Manager of Financial Instruments in Bulgaria (tbc)

    • 13.30

      End of Autumn Academy & Distribution of Certificates

  • Experts

  • Venue

    4 * Hotel in Lisbon

    Hotel Açores Lisboa

    Av. Columbano Bordalo Pinheiro 3, 1070-060 Lisboa, Portugal

    https://www.bensaude.pt/hotelacoreslisboa/en/

    +351 21 722 2920

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