Bienvenue Welcome Benvenuti Willkommen Velkommen Bienvenidos Καλώς ήλθατε Üdvözlet Laipni lūdzam Sveiki atvykę Bem-vindo Dobrodošli

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1 Conférence de mi-parcours 6 décembre 2013 Clermont-Ferrand, France Bienvenue Welcome Benvenuti Willkommen Velkommen Bienvenidos Καλώς ήλθατε Üdvözlet Laipni lūdzam Sveiki atvykę Bem-vindo Dobrodošli

2 Conférence de mi-parcours FIN-EN Ingénierie financière: Quelles améliorations pour l avenir? 6 décembre 2013 à Clermont-Ferrand

3 Le projet FIN-EN Antonella Pisano Coordinatrice du projet Finlombarda, Italie (chef de file) Conférence de mi-parcours FIN-EN, le 6 décembre 2013 à Clermont-Ferrand, France

4 FIN- EN MID TERM CONFERENCE Clermont- Ferrand, December 6 th 2013 FIN - EN PROJECT Sharing Methodologies on Financial Engineering for Enterprises Antonella Pisano, FIN- EN Project Manager Finlombarda S.p.A, Regione Lombardia (Italy)

5 FIN- EN in a nutshell PARTNERSHIP 13 partners from 13 different EU contries (BE, DK, FR, DE, GR, HU, IT, LT, LI, PT, SI, ES, UK), managing FEIs in for a total budget of around 3,5B PROJECT BUDGET Total Budget: 1,995M EU CO- FINANCING The project is co- funded by the Interreg IVC Programme, implemented under the European Cohesion Policy (Territorial CooperaZon ObjecZve). LEAD PARTNER Finlombarda S.p.A. with the endorsement of Lombardy Region TIMING 36 months (Kick off: March 2012)

6 Develop and maintain an extensive network across Europe as natural place where to exchange experience about financial instruments implementazon FIN- EN goals and added value GENERAL OBJECTIVE To enhance cooperazon among European regions on the implementazon of Financial Engineering Instruments under EU Structural Funds, starzng from concrete experiences to share proposals for a be`er use of Financial Instruments in IdenIfy good pracices to promote the development of more effecive and efficient financial instruments in the next Structural Funds Raise awareness on the role EU funds play in addressing market failures, in szmulazng private co- investment and enhancing capacity building improvements in the field of financial instruments PROJECT ADDED VALUE! Thanks to the exchange of experience FIN-EN provides a deep qualitative insight of a sample of implemented financial instruments which is not elsewhere available and which could represent a common asset for future programming period!

7 FIN- EN aczvizes and expected outputs Mapping of 45 FEIs managed by partners in the programming period (grid format) Analysis and ThemaIc Working Groups on the three phases of FEI lyfe cycle (programming, implemenzng, monitoring and evaluazon) to find out common difficulzes, idenify good pracices and suggest shared soluzons Exchange of experiences through Study Visits to support the transfer of knowledge from one partner to another ONE DATABASE OF MAPPED FEIs ONE REPORT FOR EACH FEI LYFE- CYCLE PHASE + DATABASE OF GOOD PRACTICES 3 STUDY VISIT REPORTS 12 IMPLEMENTATION PLANS GUIDELINES FOR FINANCIAL INSTRUMENTS IMPLEMENTATION

8 Mapping of FEIs - CollecZon of quanztazve/qualitazve informazon GENERAL INFORMATION Data at ) Intermediate Body; 2) Holding Fund (legal status, manager, co- financing partners, ); 3) Financial Instrument (type, legal status, purpose..); 4) Budget (EU, public/private co- financing..); 5) State of the art; 6) Other actors involved; 7) Technical funczoning PROGRAMMING Existence of market analysis; use of bo`om- up approach; idenzficazon of the need and relevant market failure; idenzficazon of financial instruments targets; seleczon of FEI manager; seleczon process; FEI AcZon plan by the FEI manager; content of the agreement between the Holding Fund manager and the FEI manager; IMPLEMENTING Clear idenzficazon by the FEI manager/holding fund manager of the internal staff involved in FEIs managing and their roles and duzes; existence of public procurement tenders/open calls; evaluazng procedures; financial intermediaries selected; main content of the agreement; ; exit and closing MONITORING AND EVALUATION Filling in Guide References New RegulaIon Proposals Monitoring and reporzng procedure by the holding fund manager; monitoring and reporzng procedure by the FEI manager; Plan of administrazve and on the spot checks/internal audits; plan of a quanztazve/qualitazve interim and ex- post performance evaluazon; ; customer sazsfaczon surveys;

9 Analysis and exchange of experience about the three phases of FEIs life- cycle THEMATIC WORKING GROUP 1 THEMATIC WORKING GROUP 2 ImplemenIng Programming Monitoring and EvaluaIon THEMATIC WORKING GROUP 3 Technical Advisory Commiaee

10 IdenZficaZon of good praczces Life-cycle phase! Programming Implementating Monitoring and Evaluation Macro Topics! Gap Analysis Strategy Governance Future Funds Internal organizazon Financial intermediary CommunicaZon Closing & Exit Future Monitoring & ReporZng requirements EvaluaZon Future Good practice criteria! 14 criteria, among which: Precise idenzficazon of the need to be addressed Strategic relevance of the need with respect to the OperaZonal Programme PoliZcal consensus and involvement on the strategy Use of subsidiarity concept 5 criteria: InnovaZve design Number and type of co- financing actors High leverage Limited expenses for the final recipients Short implementazon Zming 7 criteria: Clear definizon of roles, duzes, deadlines Provision of monitoring and reporzng tools High spending level Timing respect Mid- term and final financial instruments evaluazon Capacity of correczve aczons Customer and non- customer sazsfaczon survey Database of good pracices

11 FIN- EN Study visits support the transfer of knowledge Lisbon, Portugal September 2013 Clermont- Ferrand, France December 2013 Manchester, UK March 2014 Focus on several innovazve financial instruments managed by MA COMPETE among which the Business Angels (BA) Co- investment Fund Focus on Jeremie Auvergne seen from the point of view both of SMEs and of the Funds managers Focus on the Jeremie Fund established in North West of England

12 The capitalizazon of project results: the Guidelines and the ImplementaZon Plan The Guidelines for FIs implementation The Implementation Plan Handbook focusing on traps to avoid, best praczces to adopt, differences from one country to another, simplificazon proposal for the future implementazon of financial instruments in programming period Local aczon plan for the transfer and adaptazon of successful schemes/models/ procedures shared thanks to FIN- EN at local level Regional ImplementaIon Commiaee: closed round table (partners, main local polizcal stakeholders) to share FIN- EN findings in terms of good praczces and transferability opportunizes to be taken into considerazon in the Ops implementazon. Results of these commi`ees will be the drivers for the draoing of ImplementaZon Plans FIN-EN will provide Managing Authorities, Intermediary Bodies, etc. with recommendations and concrete suggestions supporting an effective and efficient implementation of financial instruments (in each phase of FIʼs life-cycle)!

13 State- of- the- art up to date ü Database of 45 mapped FEIs completed + quanztazve and qualitazve analysis ü 3 ThemaZc Working Groups organized ü Report on ThemaZc Working Group 1 (programming) available ü Reports on ThemaZc Working Group 2 and 3 under way ü 16 good praczces in relazon to the Programming phase idenzfied ü 2 Study visits organized The last project year will be dedicated to the complemon of TWGs/Study visits acmvimes, but mainly to the elabora<on of the Guidelines and the involvement of local stakeholders on the valoriza<on of FIN- EN results at local level, thanks to the drating of the Implementa<on Plan.

14 Conférence de mi-parcours FIN-EN, le 6 décembre 2013 à Clermont-Ferrand, France FIN- EN working with Europe Ar<cle on FIN- EN published on PANORAMA #47 April FIN- EN published on Inforegio website as Project of the Week Open Days FIN- EN workshop Website: en.eu E- mail: info@ﬁn- en.eu

15 FIN- EN at the Open Days first recommendazons shared with DG Regio and European stakeholders q To tackle market gaps public authorizes should be able to aaract private resources: it means that the implementazon opzons of financial instruments should be such to lead private actors to take risks that they usually refuse q A deep experise in regulaions is fundamental, to be able to exploit all the possibilizes offered by the legislazve framework q Clarity and transparency in the legislaive framework are essenzal to avoid problems related to the interpretazon of rules q Flexibility is one of the main success factors: it is not true that one size fits all, there should be the possibility to mix and adapt all the elements and knowledge available to design effeczve instruments

16 Thank You h`p:// en.eu/ Contacts details Direct

Bienvenue Welcome Benvenuti Willkommen Velkommen Bienvenidos Καλώς ήλθατε Üdvözlet Laipni lūdzam Sveiki atvykę Bem-vindo Dobrodošli

Conférence de mi-parcours 6 décembre 2013 Clermont-Ferrand, France Bienvenue Welcome Benvenuti Willkommen Velkommen Bienvenidos Καλώς ήλθατε Üdvözlet Laipni lūdzam Sveiki atvykę Bem-vindo Dobrodošli Conférence