Complementarity of EFSI and ESI in Catalonia

Albert CastellanosGeneral Director for Economic Promotion, Competition and Regulation

Ministry of the Vice-presidency and of the Economy and Finance

Barcelona, 15 September 2016

European Fund for Strategic Investments (EFSI) and European Structural and Investment Funds (ESI) priorities are to promote smart, sustainable and inclusive growth in Europe.

EFSI provides financing to economically viable projects: Direct financing of big projects

Financing of Investment Platforms

Financing of projects through financial intermediaries and through operations with National Promotional Banks

ESI are implemented in a decentralised way. They provide financing for projects via grants and financial instruments.

Complementarity between EFSI and ESI

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Strategic combination of ESI Funds and the EFSI can mobilise additional investments in Europe by complementing each other:

Complementarity at project level

Complementarity at financial instrument or investment platform level

Complementarity between ESFI and ESI

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Potential complementarities between EFSI and ERDF in Catalonia

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EFSICatalonia

Financial needs addressed by EFSI Possible complementarities with Catalonia’s ERDF OP

Direct financing of big projects (above 25 MEUR)

Only a few big projects have been identified and are in progress.

Many of the projects identified do not fulfil the EFSI conditions.

There are difficulties to find private investors for big projects of public interest.

ERDF OP does not include big investment projects (exceptions!)

Financing of investment platforms

Future launching of an Investment Platform for energy efficiency projects for ESCO.

In the future there could be other thematic investment platforms

Investment platforms are not included in the ERDF OP. But they could be included in the future.

Financing through financial intermediaries and through operations with NPB

The ICF and other financial institutions are providing financing to SME with EIB funds.

The ERDF OP promotes financial instruments to SME. Currently there are no complementarities between EFSI and ERDF at the instrument level. There could be in the future.

Examples of further potential complementarities between ERDF OP

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RIS3CAT instruments (cofinanced by the ERDF OP)

Potential complementarities of RIS3CAT instruments with EFSI

RIS3CAT communities are groups of companies and R&I stakeholders that promote R&I plans for the economic transformation of production activities.

ERDF OP subsidises RIS3CAT communities’ collaborative high risk R&I projects to increase the competitiveness of the Catalan economic sectors. EFSI could finance the investment that is not eligible for ERDF.

R&D cooperation projects (nuclis tecnològics) of companies in collaboration with research and technological centres.

ERDF OP subsidises high risk R&I projects of companies. EFSI could finance the investment that is not eligible for ERDF.

Innovation Public Procurement program focused on social and sanitary needs and on circular economy.

The ERDF OP is cofinancing the public procurement of innovation. EFSI could provide financing to companies applying to the public biddings, to develop new solutions to the public sector challenges.

www.gencat.cat/catalunya2020