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ESF Aktuell

Financial Instruments Under the European Social Fund (ESF)

13/01/2020

Fi Compass is a platform that is provided by the European Commission for advisory services on financial instruments. On the Fi Compass website, there is a selection of videos covering projects within the ESF.

Here is a short list of some useful videos on financial instruments:

Financial Instruments within the European Social Fund (ESF) in Italy - SELFIEmployment

SELFIEmployment was part of the national strategy for youth employment for 2014 to 2018. The fund relies on the Italian national operational programme, Youth Guarantee and they aim to provide a range of financial instruments to address individual needs. The case study video highlights how SELIEmployment were able to make funds go further and invest in more affordable business opportunities to support the youth aged between 15 -29, who are not in education, employment or training.

Supporting social enterprises in Poland

This video highlights how the financial instrument, using ESF, is helping social enterprises in Poland. The project invests in businesses that are supporting the long-term unemployed and disabled. The main aim is to provide finance for social enterprises that don’t have the resources for their development. The video highlights a success story where the funds have helped many social enterprises with projects like a café that employs minorities, migrants and long-term unemployed.

Promoting Entrepreneurship in Lithuania with the European Social Fund (ESF)

This case study on ‘Entrepreneurship Promotional Fund’ highlights how funds from ESF have helped in the creation of 1,000 new successful ventures and jobs across Lithuania. With low-interest loans from credit unions and free training to launch businesses, the ESF funds help both entrepreneurs and disadvantaged groups to help fulfil their investment ideas. Financial instruments from Lithuania use the co-financed from the ESF to promote self-employment and entrepreneurship.

The ESF financial instrument focuses on business start-ups and unlike grants, the ESF funds go further as they are returned by entrepreneurs so that it can be re-used to help more people in need.