Key features of the new legal and policy framework?

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To encourage and increase the use of financial instruments in cohesion policy in 2014-2020 programming period, the new legal and policy framework:

  • offers greater flexibility to EU Member States and regions in terms of target sectors and implementation structures;
  • provides a stable implementation framework founded on a clear and detailed set of rules, building on existing guidance and experiences on the ground;
  • captures synergies between financial instruments and other forms of support, such as grants; and
  • ensures compatibility with financial instruments set up and implemented at EU level under indirect management rules.

The common provision regulation includes a separate section on financial instruments - Title IV (Articles 37 to 46), allowing for a clearer presentation of the instruments' specificities and regulatory requirements. Furthermore, implementation details are laid down in related secondary legislation (Delegated Acts and Implementing Acts).

There will therefore be a single set of rules governing financial instruments for all five ESI Funds, ensuring consistency with the provisions of the Financial Regulation.