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Financial Instruments
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Financial Instruments

Member States can use financial instruments as an efficient and sustainable way of providing support under the priorities of programs funded by ESIF. Financial instruments include loans, guarantees, equity capital investments and similar financial measures. These instruments can be used for financially viable projects, i.e. for projects that generate income or save on investment. Below are some examples of BGI team in this area.


Examples

Study on the Application of EAFRD Financial Instruments in 2014-2020 Rural Development Programmes
BGI Consulting provided services to ÖIR GmbH (Austria), which implemented the order of the European Investment Bank.
 
BGI experts had analysed the provisions of the Lithuanian Rural Development Program 2014-2020 on the application of financial instruments and had assessed the wider potential for using these tools. The processes of financial instrument planning and ex-ante evaluation, also the clarity of the regulation on the regulation of financial instruments in the General Provisions Regulation were analysed. Methods of document analysis and interviewing were used.
Evaluation of the Need of Services of Financial Instruments Consulting Platform FI-compass
BGI Consulting provided services to Spatial Foresight GmbH (Luxembourg), which implemented the order of the European Investment Bank.
 
BGI experts analyzed the thematic needs and challenges of institutions that are planning or implementing financial instruments in Lithuania. An interview with the managing intermediate institution and the fund’s manager gave insights on the sources of information used, the most relevant thematic areas and ways to build capacity. The research results help to plan the FI-compass platform services.
Case Studies of Lithuanian Entrepreneurship Promotion Fund and Latvian Credit Fund
BGI Consulting provided services to Spatial Foresight GmbH (Luxembourg), which implemented the order of the European Investment Bank.
 
The ESF funded Entrepreneurship Promotion Fund in Lithuania and the Latvian Credit Fund, funded by the EAFRD and the EFF, has been identified as unique examples of application of financial instruments. Case Studies presents the objectives of the instruments, the actions undertaken prior to the establishment of the instruments, the roles of the funding scheme and partners, the instrument management decisions, the investment strategy and the characteristics of the financial products, achievements and lessons learned.
 
Case Study of Lithuanian Entrepreneurship Promotion Fund can be found here.
 
Case Study of Latvian Credit Fund can be found here.
Synergy and Harmonization of the Forms of Assistance. Case Study: Loans for Home Renovation in Lithuania
BGI Consulting provided services to Spatial Foresight GmbH (Luxembourg), which implemented the order of the European Investment Bank.
 
The case study analyses the use of financial instruments for housing renovation and their matching with other forms of support (grants, interest rate subsidies and advisory support). The case study covers the most relevant aspects of the establishment and implementation of the financial instrument: the role of the partners involved in the system, the investment strategy and characteristics of the financial product, the means of management decisions, achievements and lessons learned.
Evaluation of the Impact of EU Structural Assistance on Small and Medium Businesses
The evaluation was carried out at the request of the Ministry of Economy of the Republic of Lithuania.
 
The evaluation focused on assessing the impact of financial instruments for business in the 2007-2013 programming period. The impact of venture capital funds, business angel’s funds, credits and credit related measures, and the effectiveness of these measures compared to subsidies was estimated The impact of the measure "Guarantee Fund" and "Small Credit Provision - Phase II" was adapted to the counterfactual impact assessment method. Also, proposals were made for the most appropriate forms of support and measures according to the type of economic activity of enterprises and the life cycle of the company, as well as recommendations on the application of financial instruments were formulated. The results of the evaluation have contributed to the planning of the 2014-2020 financial instruments for business.
 
Report
can be found here.


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