Financial Instruments: A Stock-taking Exercise in Preparation for the 2014-2020 Programming Period
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As a key instrument of Cohesion Policy, European Structural Funds support regional competitiveness and employment, and aim to stimulate growth and employment within the least developed regions of the European Union (EU). Under the General Regulation, the Financial Engineering Instruments (FEIs) can be established to invest in enterprises, primarily SMEs (Article 44a), Urban Development (Article 44b), and Energy Efficiency and Renewable Energy in Buildings (Article 44c). As the European Commission (EC/ the ‘Commission’) and Member States start to prepare for the 2014-2020 programming period, it was considered important to learn from the experience to date on FEIs and what Member State intentions are in relation to establishing Financial Instruments (FIs).