Financial engineering instruments: the way forward for cohesion policy support? Recent experience from the Baltic states
Financial engineering instruments: the way forward for cohesion policy support? Recent experience from the Baltic states

Summary/Abstract: Traditionally, EU cohesion policy support to businesses and local authorities has almost exclusively taken the form of non-repayable grants or subsidies. However, in the current structural funds programming period (2007-2013), financial engineering instruments (FEIs) have emerged as a significant support mechanism in addition to grant assistance5. Thus, “in 2007-2013 the use of different modes of financial instruments has become more widespread. Financial instruments are quickly growing in variety, scope and amounts committed to them. In the 2014-2020 period an even wider application is envisaged – the financial instruments can be used in all policy areas where feasible” (European Commission 2012, p.1).

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