- Volume 2 (2014), Issue 3
- Vol. 2 (2014), No. 3
- >
- Pages 192 - 199
- pp. 192 - 199
The Use of Financial Instruments in European Structural and Investment Funds
What Are the Improvements in the Legal Framework for the Programming Period 2014-2020 from an Audit Perspective?
The increasing use of financial instruments (FIs) has been one of the major innovations in European Structural and Investment (ESI) Funds in recent years. Equity, guarantee and loan instruments are more and more used instead of grants to provide public support. This article provides some background information in relation to the difficulties of implementing financial instruments in the programming period 2007-2013. It also assesses to what extent the legal framework for using these instruments in the programming period 2014-2020 may address the weaknesses identified by the European Court of Auditors (ECA or Court).