Evaluation of the Risk Sharing Financial Facility
The Risk Sharing Finance Facility (RSFF), jointly developed by the European Commission (EC) and the European Investment Bank (EIB) and launched in mid-2007, is a debt facility providing loan finance to private and public entities for the support of additional investments in Research, Development and Innovation in the order of EUR 10 billion for the period 2007-2013.
The EU financial contribution - coming from FP7 - to the RSFF amounts to a maximum of EUR 1 billon for the period 2007-2013 and has to be matched by an equivalent amount from the EIB. In accordance with Annex II of FP7, the EU contribution has two parts: a first tranche of EUR 500 million for the period 2007-2010; and a second tranche of EUR 500 million for the period 2011-2013, subject to an interim evaluation.
According to Annex II of the FP7 Decision (EC)¹ and of its Specific Programmes 'Cooperation' ² and 'Capacities' ³, the RSFF's implementation has to be evaluated by the year 2010 through an external assessment conducted by a group of independent experts in accordance with the procedure set out in Article 7(2) of the FP7 Decision (EC). The results of the 'RSFF interim-evaluation' have to be presented by the Commission to the European Parliament, the Council, the European Economic and Social Committee and the Committee of the Regions. On the basis of this report, the Council and the European Parliament may decide to release the second tranche of up to EUR 500 million for the RSFF for the period 2011-20134.
The RSFF interim evaluation was carried out by a group of very-high level experts on the basis of in-depth information from the EC and the EIB, including statistics, detailed analyses of the RSFF-loan portfolio, interviews and field visits.
1 Decision 1982/2006/EC of the European Parliament and of the Council – 18 December 2006 – Annex II.
2 Decision 2006/971/EC of the Council – 19 December 2006 – Annex III.
3 Decision 2006/974/EC of the Council – 19 December 2006 – Annex III.
4 Annex II to Decision No 1982/2006/EC, p. 38.