Opening the event, the European Commission's Mihail Dumitru (DG AGRI Deputy Director-General) told the conference: "We need to offer all our stakeholders a full range of support under the Rural Development Programmes, including improved access to funding. I believe that an intelligent and strategic mix of Financial Instruments can deliver funding where it is needed, notably by attracting additional private capital and re-using returned resources. The use of Financial Instruments will help to reduce budget pressures and channel funds through financial intermediaries with great experience in evaluating viable projects, which will contribute to enhancing the competitiveness of farms and businesses. Financial Instruments can be tailored to farmers' needs and I think that existing models and EU Rural Development funding rules provide sufficient flexibility to adapt projects to specific needs."
Co-funded by the five different European Structural & Investment Funds (ESIF), which include the European Agricultural Fund for Rural Development (EAFRD), Financial Instruments are an efficient way to invest in the growth and development of people and businesses across the EU. They can be set up by Member States and regions to invest available ESIF funding through financial products such as loans, guarantees, equity and other risk-bearing mechanisms that support projects on the ground. Today's meeting, the fourth such macro-regional event, was aimed in particular at providing Member States and managing authorities with more information about possible options and encouraging exchanges about the practical challenges faced so far in designing and establishing schemes. See here for more information about Financial Instrument via the EU Rural Development Programmes.
His statements were echoed by Ms Nieto Gilarte, Director-General of Rural Development and Forestry Policy at the Spanish Ministry of Agriculture, Food and Environment, who presented the Spanish approach towards Financial Instrument in 2014-2020 and the vision of the Ministry for developing Spanish agriculture. Further contributions from COPA-COGECA and the Spanish farm unions (Cooperativas Agro-alimentarias de España) introducing farmers' views and needs for investments.
Around 100 participants from more than 10 EU Member States participated in lively exchanges on the use of financial instruments (loans and guarantees) for agriculture and rural businesses. Examples from Estonia, Hungary, Romania, and Spain were also presented, and experts from the European Investment Bank, the European Investment Fund and the European Commission also contributed to the discussions.
Today's event in Madrid follows similar events in Dublin, Vienna and Riga of last year where more than 450 participants gathered and shared their experience and knowledge.
All material from the conference, as well as a video-recording, will be made available shortly on the fi-compass website: https://www.fi-compass.eu/event/1995/eafrd-financial-instruments-agriculture-and-rural-development-2014-2020-madrid-31-may
This event will be followed by a macro-regional seminar in Rome on 13 June 2016. Registrations are open: https://www.fi-compass.eu/event/1994/eafrd-financial-instruments-agriculture-and-rural-development-2014-2020-rome-13-june-2016
The 2nd European conference on Financial Instruments under the EAFRD will take place in Brussels on 25 November 2016.
Source: fi-compass.eu
