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Main TA needs for designing, setting-up & implementing FIs in cohesion policy
TA and advisory needs at various stages of FI implementation Forms of delivering assistance
Design of FIs
• advice on conducting ex-ante assessments, P
r
• assessing market demand, policy fit, sector-specific investment strategies and o
products, g
r
• development of implementation structures, a
• identification of potential co-financing sources, m
• State aid and procurement considerations, m
• features and economic viability of target final recipients, etc. e
M -
H
u a
Set-up of FIs o l n
r ti d
i
z - i
• advice on procurement and selection of bodies implementing FIs, o r n
Implementation • development of business plans of FIs for thematic objectives, n e s
t g t
• Drafting and conclusion of funding agreements, etc. a i r
cycle of FIs l o u
n m
A
Implementation of FIs s A e
s s n
i s t
s i -
• guidance on the investment process (identification, evaluation and selection of t s s
a t p
final recipients or projects), n a e
• financing agreements with final recipients, c n c
e c i
• financial management (treasury, disbursement, repayment, follow-on e f
investments), c
• cost and fee structures, a
s
• detection and settlement of irregularities, s
i
• monitoring, auditing, reporting, etc. s
t
a
c
Exit / Winding-up of FIs n
• advice on exit strategies, e
• legacy requirements,
• situations of default , etc.
Two forms of assistance delivery under the TAP
European Commission MS-level support
[outside the scope of
Initiated by EC Paid by EC Paid by EC the TA platform]
Horizontal assistance: Multi-region assistance: Programme-specifc assistance:
• initiated by CP stakeholders for the
• applicable to all MS and types of • services and guidance regarding the
financial instruments benefit of more than X managing design, set-up and implementation of a
• initiated and financed by the EC (top- authorities in a minimum number of Y specific FI within specific programme
down) MS (bottom up); paid by the EC • requested by managing authorities and
• on the basis of several open calls for
• activities would typically include the financed by the MA from the TA budget
exchange of best practice and the project proposals to be organised by EC of the programme involved.
• activities would typically include support
networking across MS, as well as • activities would typically include the
trainings or guidance on common for the development of FIs targeting formulation of sector and territory-
themes such as ex-ante assessments, development objectives or market specific investment strategies, the
public procurement, regulatory aspects failure that are shared by a number of design of specific loan, equity or
concerning cohesion policy, possibly regions (e.g. EE interventions in housing guarantee products or the development
State aid, etc. in CEE or cross-border initiatives of procurement procedures.
(Baltics)).
Appropriate advisory service providers (IFIs, NFIs, other) Any service provider
TA Initiated by MA/IFIs/NFIs TA Requested
under the TAP by MA Paid by MA
Member States, managing authorities and other ESIF stakeholders MS/MA, ESIF stakeholders TA
Proposal: EC management of TAP horizontal and multi-region assistance
S
T
R
A
SUPERVISORY BOARD T
E
G
Y
E E
X
EUROPEAN COMMISSION E
C
U
T
I
EC internal contract management V
Horizontal Assistance Multi-region Assistance
(REGIO DGA1.B.3)
1. Call for project
Direct award of A
ADVISORY BOARD proposal (identifying also D
one single multi- service providers) V
I
S
annual service (EC; IFIs; independent experts) 2. Agreement with O
contract R
Advice on horizontal & multi-region assistance advisory service Y
provider for selected
projects
Co-ordination Individual agreements
group
(EC/EIB)
Agreement Agreement Agreement
I
M
Advisory Advisory Advisory P
L
E
Service Service Service M
EIB Group E
N
Provider 1 Provider 2 Provider … T
A
T
(IFI, NFI, other) (IFI, NFI, other) (IFI, NFI, other) I
O
N
Horizontal Assistance Multi-region Assistance Project
Proposals
Member States, managing authorities and other ESIF stakeholders
First messages from the public survey (1)
Three questions with sub-sections for which the number of
responses ranges from 53 to 60
1. Thematic Objectives which are of interest for financial
instruments:
The strongest interest for "3. Enhancing competitiveness of SMEs" with 58%
followed by "1. Strengthening research, technological development and
innovation" with 45% and "Supporting the shift to low-carbon economy in all
sectors" with 45%.
The three areas with lowest interest are: "9. Promoting social inclusion and
combating poverty" with 12%, "10. Investing in education, skills and lifelong
learning" with 12% and "11. Enhancing institutional capacity and an efficient
public administration" with 7%.
2. From whom the respondents received certain TA services in
2007-2013:
Design phase: the Commission/EIB Group Joint Initiatives played the most
important role in delivering guidance on market assessments (29%) and
together with Holding Funds on governance structures (21%).
Set-up and Implementation phases: Holding Funds at the pole position for all
but "monitoring and auditing of FIs" where the Managing Authority is first
(33%). In those phases, the role of the Commission/EIB Group Joint
Initiatives is the highest for "assisting/managing the procurement process to
select FI manager (19%) and the lowest in "apprising business
plans/investment strategies" (9%) and "Negotiating agreements with project
promoters" (7%).
Exit/winding up phase: advice on "exit strategies" and "legacy 5
requirements" was received by most respondents from the MA (26%, 28%
respectively) and "on how handle defaults and delayed payments" from the
Holding Fund (26%).
First messages from the public survey (2)
3. How respondents think TA can be best provided by the TAP:
For all tasks in all phases there is a clear preference for the Horizontal
Assistance (HA).
The shares of respondents preferring this option are more or less double as
high as those for Multi-regional Assistance (MRA).
The smallest differences for the four phases can be found for "Guidance on
specific issues related to the Thematic objectives" (41% HA vs. 36% MRA),
"Guidance for the selection of Fund Managers" (50% HA vs. 33% MRA),
"Guidance on business plan and application support for project types" (51%
HA vs. 28% MRA) and "Advice on exit strategies" (68% TA vs. 25% MRA).
Next steps:
Full analysis of the survey results should be available soon
Discussion with the Member States experts today
Discussion with stakeholders on 20 June
Development of a catalogue of specific activities based on the results of the
public survey by October (EIB study)
Conclusion of the necessary contractual arrangements for the Horizontal
Assistance before end-2013: Horizontal Assistance to be operational as of 1
January 2014
Call for proposals for the Multi-regional Assistance to be launched by end-
2013
6
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