The CPMR has developed a study on the use and effectiveness of European Structural and Investment Funds’ (ESI) Financial Instruments (FIs) in CPMR member regions.
The study explores the territorial dimension of FIs and their adequacy as instruments to achieve Cohesion policy objectives.
All of the CPMR’s members had the chance to describe their experience with Financial Instruments over the 2007-2013 programming period and outline their vision of the role of Financial Instruments within the future Cohesion policy. A total of 36 regions participated in a 34-question online survey: 27 are coastal regions, six are island regions and three inland regions, from 15 Member States.
Firstly, the results of this survey show that there is a correlation between the perception that member regions have of Financial Instruments and their level of development. In addition, the study points out that there is a strong link between the results and the achievements of the set up FIs.
Secondly, the study confirms the European Commission’s assumptions regarding the benefits of Financial Instruments in term of boosting growth, creating jobs and attracting private investment in regions, as well as the revolving nature of FIs.
Thirdly, the study shows that even though there is a growing importance of Financial Instruments, there should be a balance on the use of grants and FIs.
Finally, the study also reveals a link between the success of Financial Instruments and the characteristics of each region. Not only economic characteristics of the region influenced the success of the instruments, but also regional actors and financial institutions had an important role.
The main conclusion of the study is a recommendation that the future of Cohesion Policy should reach the right balance between grants and financial instruments, as both contribute to realising European objectives in different ways.
You can read the summary of key findings of the study here.