Ex-ante assessment methodology for financial instruments in the 2014-2020 programming period : General methodology covering all thematic objectives Volume I

This methodology is intended as a toolbox encompassing good practices and providing practical guidance to Managing Authorities (MAs) in the preparation and the realisation of the ex-ante assessment of the financial instrument (FI) envisaged in the Programme(s). This methodology is a reply of the Commission to the frequent questions from the managing authorities on the particular elements of ex-ante assessment included in Article 37 (2) of the Common Provisions Regulation (CPR). The formal status of this methodology has no legal value and it is not binding for managing authorities5. FIs shall be implemented to support investments which are expected to be financially viable but do not receive sufficient funding from market sources.6 The ex-ante assessment is necessary (i) for the setting up of an FI or (ii) the continuation of an FI as far as it comprises a contribution from European Structural and Investment Funds (ESIF) 2014-2020 and follows the requirements of Article 37 (2) of the CPR. The ex-ante assessment aims to ensure that ESI Funds resources allocations to FIs are fully aligned with the objectives of ESI Funds and Programmes and are used in accordance with the principles of sound financial management. The ex-ante assessment should allow MAs to tackle high-priority market gaps and to define the priorities for the allocation of public resources in accordance with Programmes and priority axis