Guidance for Member States on Article 37(2) CPR– Ex-ante assessment
|Available languages :|
Financial instruments (eu level) are a special form of support and their successful design and implementation hinges on a correct assessment of market gaps, needs and investment strategy.
Experience of the 2007-2013 period showed that decisions to set up FIs were not always made on this basis, leading, in some cases, to problems with disbursements, 'parking of funds' and over allocation of resources to FIs.
Article 37(2) CPR was thus included in the CPR to ensure that, in the context of a programme, FIs are designed on the basis of an ex-ante assessment which has identified market failures or sub-optimal investment situations, respective investment needs, possible private sector participation and resulting value added of the FI in question. Decisions to set up FIs should be therefore demand driven and not supply driven.
Finally, it has to be underlined that some of the requirements of Article 37(2) CPR are not entirely new, but for 2014-2020 they are reorganised and completed in the CPR.
|More information :|