European Structural and Investment Funds
Intensive Summer Course | 19.06.2019 - 21.06.2019 | Como | Language: English

Financial Instruments – How to Use Financial Instruments Effectively

Lexxion’s three-day advanced Summer Course on Financial Instruments (FIs) offers the perfect opportunity to meet and discuss the current challenges for set-up and implementation of financial instruments. Participate in in-depth presentations and exchange good practices.

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Overview

The current policy framework for ESI Funds emphasises the need for a significant use of financial instruments with multiplied amounts of ESIF resources delivered to SMEs and other final recipients. Managing authorities within all ESI Funds are currently establishing and implementing the new financial instruments in forms of loans, guarantees, equity and quasi equity. During these processes, ESIF experts need to be aware not only of the Common Provision Regulation but also of the public procurement and State aid regulations.

The Commission also supports the use of Financial Instrument by providing off-the-shelf instruments and enabling the managing authorities to get involved in the centrally-managed Financial Instrument such as Horizon 2020, COSME, InnvoFin and the SME Initiative. Additionally, synergies are possible with resources under the Juncker Plan or European Fund for Strategic Investments.

The possibilities to combine different sources of funding on the programme and project level are in focus of Managing Authorities and other bodies involved in the implementation of financial instruments across Europe.

Programme

Lexxion’s three-day advanced Summer Course offers the perfect opportunity to meet and discuss the current challenges for set-up and implementation of financial instruments. Participate in in-depth presentations and exchange good practices on topics such as:

Day 1

  • Introduction: Set Up and Implementation of Financial Instruments (FIs) in 2014-2020 Programming Period: Objectives, Main Rules and Regulatory Framework
  • Set Up and Implementation of Financial Instruments in Practice
  • Key Elements of Sound Financial Management of Financial Instruments
  • Selection of Bodies Implementing Financial Instruments (Fund of Fund Managers and Financial Intermediaries)
  • Combination Financial Instruments with Grants and with European Fund for Strategic Investments (EFSI)

Day 2

  • Structuring and Implementation of Loan Instruments
  • Structuring and Implementation of Guarantee Instruments
  • Structuring and Implementation of Equity Instruments
  • Ensuring Compliance of Financial Instruments with State Aid Rules

Day 3

  • Monitoring, Audit and Control in Financial Instruments
  • Irregularities in the Implementation of Financial Instruments
  • Re-Use of Resources Allocated of Financial Instruments after the eligibility period
  • Financial Instruments Beyond 2020

Methodology

Our Summer Course will combine lectures, tutorials, case studies and discussion on practical problems. As a participant you will be actively involved in the course and be able to present your own problematic issues. The different perspectives of our experienced trainers will support to apply the complex rules to real case and a mix of learning methods will be applied in the course to achieve the best results.

Just send to us your cases and questions in advance!
We will forward them to our speakers, who will include your issues in the programme and answer them during the training. All information concerning such problems and cases will be treated confidentially.

Who should participate?

  • Representatives from public authorities in charge of implementation and management of Financial Instruments, especially from:
    • Managing Authorities
    • Certifying Authorities
    • Audit Authorities
    • Intermediate Bodies
    • Regional and local authorities
    • Beneficiaries of EU funded projects:
      • Private and public companies
      • Associations
      • Research institutes
  • Bodies working in European Territorial Cooperation
  • Public and private banks and other financial intermediaries

Course Material – No need to miss anything!

If you are unable to make it to the summer course you may want to order a copy of the printed material including the access data to all presentations shown during the event. The price is € 299,- (excl. of VAT). If interested, please contact Hanne Goldbeck.

Day 1: Wednesday, 19 June | 08:30 - 17:30

08:30

Registration & Welcome Coffee

09:00

Welcome Note by Lexxion & Introduction of Participants

09:30

Introduction: Set Up and Implementation of Financial Instruments (FIs) in 2014-2020 Programming Period: Objectives, Main Rules and Regulatory Framework

  • What are Financial Instruments?
  • Centralized and decentralized FIs
  • The legislative framework for decentralised financial instruments (Common Provision Regulation – CPR; Delegated and Implementing Regulations; European Commission Guidelines for the Member States; Omnibus Regulation)
  • Models for financial instruments under Article 38(4) CPR
  • Fund of Funds
  • Tailor-made and off-the-shelf FIs
  • Requirements on Funds of Funds/ financial intermediaries (from Delegated Act and CPR) and their liability
  • Ex-ante assessment and Investment strategy: role, structure, update
  • Selection of bodies implementing FIs
  • Funding Agreement: role and structure
  • Main types of financial instruments and adequate implementation structures: Loans, Guarantees, Equity and Quasi-Equity
Csaba Harsányi
Hungarian Development Bank, Brussels

11:00

Coffee Break & Networking

11:30

Set Up and Implementation of Financial Instruments in Practice

Here participants learn how to set up and implement FIs with hands-on practical examples and cases. The cases will cover – among others – selection of bodies implementing FIs, update of ex-ante assessment and investment strategy, set-up of loan and guarantee instruments (identification of target group, optimal implementation structure, main parameters of the financial products and results indicators)

Marek Szczepański
Expert in EU funds in Poland, specialising in Financial Instruments, Former Deputy Minister of Economy and Labour, Owner of MWS Consulting, Warsaw

13:00

Lunch Break

14:00

Key Elements of Sound Financial Management of Financial Instruments

  • Management Costs and Fees – legal framework, calculation, eligibility of expenditures
  • Eligibility of expenditures in case of Loans, Guarantees, Equity and Quasi-Equity
  • Transferring the programme contribution to FI
  • Re-use of Resources Allocated of Financial Instruments during eligibility period
  • Winding-up procedures
Márk Bató National Coordinating Body of ESI Funds, Prime Minister’s Office, Hungary
15:00

Selection of Bodies Implementing Financial Instruments (Fund of Fund Managers and Financial Intermediaries)

  • Main legislation and guidance
  • Omnibus – new provisions
  • Types of potential financial intermediaries / financial institutions
  • Selection of financial intermediaries
Jaroslav Tóth Innovation Finance Advisory, European Investment Bank, Luxembourg
(invited)
  • Case studies: EIB/EIF procedures; BGK (PL) procedures
  • Selection process in practice
Marek Szczepański
Expert in EU funds in Poland, specialising in Financial Instruments, Former Deputy Minister of Economy and Labour, Owner of MWS Consulting, Warsaw

16:00

Coffee Break & Networking

16:30

Combination Financial Instruments with Grants and with European Fund for Strategic Investments (EFSI)

Grants:

  • 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, so far experiences
Márk Bató National Coordinating Body of ESI Funds, Prime Minister’s Office, Hungary

European Fund for Strategic Investments (EFSI)

  • Legal framework
  • Key features and benefits
  • Possibilities in use at project level or Financial Instruments
  • Risk analysis and management
Csaba Harsányi
Hungarian Development Bank, Brussels

17:30

End of Workshop Programme Day 1

18:30

Evening get together with speakers and participants

Day 2: Thursday, 20 June | 09:00 - 17:30

09:00

Structuring and Implementation of Loan Instruments

  • General rules
  • Key parameters of loans to be decided
  • Case studies: Poland (BGK and EIB/EIF); Hungary
Marek Szczepański
Expert in EU funds in Poland, specialising in Financial Instruments, Former Deputy Minister of Economy and Labour, Owner of MWS Consulting, Warsaw

Csaba Harsányi
Hungarian Development Bank, Brussels

10:30

Coffee Break & Networking

11:00

Structuring and Implementation of Guarantee Instruments

  • General rules
  • Key parameters of guarantee to be decided
  • Case studies: Poland (incl. Loan Portfolio Guarantee for Innovative SMEs – guarantee supported by interest rate subsidy)
Marek Szczepański
Expert in EU funds in Poland, specialising in Financial Instruments, Former Deputy Minister of Economy and Labour, Owner of MWS Consulting, Warsaw

12:30

Lunch Break

13:30

Structuring and Implementation of Equity Instruments

  • General rules
  • Terms of rules: management fee, hurdle rate, carried
  • The economics of a fund including costs related to compliance
  • How would a team work correct?
  • Rationale for equity financial instruments
  • Knowledge Intensive Companies for Knowledge Intensive regions
  • Characteristics of a successful equity financial instruments
  • Case studies: Regional equity funds and portfolio companies
Luigi Amati CEO of META Group, Italy, Member of the European Commission Advisory Group on “Access to Risk Finance”
  • Cases from Poland
Marek Szczepański
Expert in EU funds in Poland, specialising in Financial Instruments, Former Deputy Minister of Economy and Labour, Owner of MWS Consulting, Warsaw

  • Cases from Hungary
Csaba Harsányi
Hungarian Development Bank, Brussels

15:30

Coffee Break & Networking

16:00

Ensuring Compliance of Financial Instruments with State Aid Rules

  • 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
  • De minimis
  • Calculation of Grant Gross Equivalent (GGE)
  • How to ensure that financial intermediaries pass all aid to final beneficiaries
  • Challenges resulting from State aid to promote risk finance investments
  • The specific provisions of article 21 GBER
  • Tax incentives for private investors
  • The notification procedure
  • GBER (risk finance aid and Start-up aid)
  • Guidelines for Risk Finance
Anita Gyürkés Acting Head of Department, State Aid Monitoring Office, Budapest
17:30

End of Day 2

Day 3: Friday, 21 June | 09:00 - 15:00

09:00

Monitoring, Audit and Control in Financial Instruments

  • Monitoring and evaluation system; monitoring requirements
  • Result orientation
  • Indicators and Milestones for FIs
  • Internal Control System
  • The regulatory requirements for the management and control of FIs (Art. 40, 41 CPR, Article 9 / Reg.480/2014)
  • Verification of the Investment Strategy
  • Management Costs and Fees
  • Cooperation with an Audit Authority
  • Audit Requirements for Verifications
Jānis Gaišonoks
Senior Auditor of EU Funds Audit Department, Ministry of Finance of the Republic of Latvia

10:30

Coffee Break & Networking

11:00

Irregularities in the Implementation of Financial Instruments

  • Definition and concept of irregularities and the risk of irregularities under financial instruments.
  • Main areas and levels of irregularities in the programming and implementation of financial instruments.
  • Proceeding in case of irregularities.
  • Rules for determining the amount of financial corrections in case of irregularities
Jānis Gaišonoks
Senior Auditor of EU Funds Audit Department, Ministry of Finance of the Republic of Latvia

Re-Use of Resources Allocated of Financial Instruments after the eligibility period

  • Legal Framework (2007-13, 2014-20)
  • Limitations and room for manoeuvre
  • A Member State’s approach
  • Perspectives for 2020+
Márk Bató National Coordinating Body of ESI Funds, Prime Minister’s Office, Hungary
  • Cases from Poland
Marek Szczepański
Expert in EU funds in Poland, specialising in Financial Instruments, Former Deputy Minister of Economy and Labour, Owner of MWS Consulting, Warsaw

13:00

Lunch Break

Financial Instruments Beyond 2020

  • ESIF financial instruments 2007-2013 and 2014-2020
  • InvestEU: basic features and regional policy aspects
  • CPR post 2020 – plans of the European Commission
Csaba Harsányi
Hungarian Development Bank, Brussels

15:00

End of Summer Course and Distribution of Certificates

*Programme may be subject to change.


Confirmation of Participation

You will receive a confirmation letter at the end of the conference. If you prefer to have it as pdf/by e-mail just let us know!

Speakers

Csaba Harsányi
Hungarian Development Bank, Brussels

More info
Marek Szczepański
Expert in EU funds in Poland, specialising in Financial Instruments, Former Deputy Minister of Economy and Labour, Owner of MWS Consulting, Warsaw

More info
Márk Bató
National Coordinating Body of ESI Funds, Prime Minister’s Office, Hungary

More info
Jaroslav Tóth
Innovation Finance Advisory, European Investment Bank, Luxembourg

More info
Luigi Amati
CEO of META Group, Italy, Member of the European Commission Advisory Group on “Access to Risk Finance”

More info
Anita Gyürkés
Acting Head of Department, State Aid Monitoring Office, Budapest

More info
Jānis Gaišonoks
Senior Auditor of EU Funds Audit Department, Ministry of Finance of the Republic of Latvia

More info

Venue

Lungo Lario Trieste 16
Como, Italy
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Online-Registration

Intensive Summer Course | 19.06.2019 - 21.06.2019 | Como | Language English
Are you a public authority?
Ticket Type Price Spaces
Financial Instruments – How to Use Financial Instruments Effectively
Regular Fee / Reguläre Teilnahmegebühr
€2.630,00
Financial Instruments – How to Use Financial Instruments Effectively
Reduced fee for public authorities / Reduzierte Teilnahmegebühr für Angehörige einer Hochschule/Behörde
€2.230,00

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