Ex-ante assessment methodology for financial instruments in the 2014-2020 programming period: General methodology covering all thematic objectives - Quick reference guide
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Article 174 of the Treaty on the Functioning of the European Union (TFEU) defines the EU objective to reduce disparities between the levels of development in the European regions and strengthen the economic, social and territorial cohesion of the EU. For the 2014-2020 programming period, European Structural and Investment Funds (ESIF) Policy plays a decisive role in reaching the objectives set up in the Europe 2020 strategy for a smart, sustainable and inclusive growth, while promoting harmonious development of the Union and reducing regional disparities. The financial constraints for public administrations will further increase the orientation of the 2014-2020 ESIF Policy on results and will require a higher efficiency in the use of public funding.
In this context, financial instruments (FIs) can play an important role in the achievement of ESIF Policy objectives. According to the Financial Regulation, FIs are defined as:
"Union measures of financial support provided on a complementary basis from the budget in order to address one or more specific policy objectives of the Union. Such instruments may take the form of equity or quasi-equity investments, loans or guarantees, or other risk sharing instruments, and may, where appropriate, be combined with grants."
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