Background:
2011 is a crucial year in defining the EU budget and financing instruments for regions after 2013.
In the current period, new tools, mainly JEREMIE, JESSICA and JASMINE, have been developed to maximise the use of Structural Funds, while the Risk Sharing Finance Facility was set up to support investment in research, development and innovation.
Financial engineering is set to take on an increased importance in the next programming period.
“Innovative financial instruments could provide an important new financing stream for strategic investments. If the EU budget can leverage investment from other public and private sources, the same funding can achieve the EU policy goals more effectively.” EU budget Review COM (2010)700 Final
Key questions:
How much funds have been committed to date, how much private sector resources have been levered and how are schemes operating?
What lessons can we learn from the current schemes and what are future schemes likely to look like?
What will be the role, challenges and benefits for European Regions and how can they get ready to fully exploit these schemes in the next period?
Speakers:
- Mr Rudolf Niessler, Director for Policy Coordination at DG Regional Policy, European Commission
- Ioannis Tsakiris, Head of Region for the JEREMIE initiative in Greece and Cyprus, and of business development in the Western Balkans, EIF
Further activities on Financial engineering:
A joint meeting of the Task Force on cohesion and the European Funding Working Group will follow the Breakfast briefing, where the first results of the AER survey on financial engineering will be presented, as well as case-studies from regions that are in advanced stages of implementing JEREMIE and JESSICA schemes.
AER members are invited to join this meeting but do need to register (see right hand column).
More information on Financial Engineering Mechanisms:
FURTHER INFORMATION ON AER ACTIVITIES 2011:
Please find here the poitical priorities of the AER for 2011:
Priorités 2011
The AER Breakfast Briefing and Working Group meeting were kindly hosted by:
The Mid Sweden EU Office
3, Avenue Palmerston
B-1000 Brussels
Tel. +32 - (0) 2 235 02 30
www.midsweden.se
8:15 - 10:00 Breakfast briefing on Financial engineering
*8.15 - Registration and networking breakfast
*9.00 - Presentations
*9.30 - Q&A
*10.00 - BB ends
10.30 - 12:30 Working meeting on Financial Engineering
Agenda
Presentation Ioannis Tsakiris EIF
Presentation Radosław Krawczykowski Wielkopolska
Presentation Franck Alcaraz Auvergne
The AER Working Group on European Funding, established in 2009, aims to constitute a platform where regions can
- (i) exchange know-how and experiences on European funding and
- (ii) define and disseminate joint recommendations, both with the aim of enhancing regions' access and ability to absorb European funding.
Click here for more information about the AER Working Group on European Funding.
AER Survey on EU Financial Engineering Mechanisms
Chaired by Thomas Andersson, Councillor in Jämtland county council, the AER Task force on cohesion policy is coordinating the reflection work on future cohesion policy.
In 2010, a series of 3 workshops was launched in this context, producing a White Paper on how to improve the efficiency of structural funds.
You would like to learn more about AER's monthly Breakfast Briefings? You would be interested in hosting a similar event? You have a suggestion for a topic? Click here!
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