Local view for "http://purl.org/linkedpolitics/eu/plenary/2012-10-26-Speech-5-232-000"
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"en.20121026.23.5-232-000"2
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Since the beginning of 2000, the EU institutions have developed a whole range of innovative financial instruments (IFIs), which are based on mechanisms combining grants from the Union budget and public and/or private financial resources in order to increase the volume of available investment to meet the Union’s strategic objectives. The ultimate purpose of, and the rationale for, the financial instruments is that they should act in situations of market failure or suboptimal investment as a catalyst that makes it possible, on the basis of a contribution from the Union budget, to mobilise funding – public and/or private – for projects that can secure no support, or only inadequate support, from the market.
The IFIs developed thus far have been used to carry out an extremely wide variety of interventions, ranging from the taking of stakes in equity/venture capital funds to the provision of guarantees/counter-guarantees to financial intermediaries, via the creation, jointly with financial institutions, of risk-sharing instruments in order to stimulate investment, innovation and research. This variety is justified by the diversity of areas covered. I also agree with the view that the introduction of IFIs under the umbrella of the Union will help to put finance at the service of the real economy for projects with European added value."@en1
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