Commission and EIB unveil new financial instruments assistance service

The European Commission and the European Investment Bank has launched a new advisory service on financial instruments for the European Structural and Investment Funds. This service is part of the ‘one stop shop’ advisory hub, to be launched as an important part of the EU Investment Plan.

Entitled fi-compass, it will be an important enabler for EU member states to make use of financial instruments under the European Structural and Investment Funds; Cohesion policy will play a central part in reaching the objectives of the Investment Plan in terms of strategic and fruitful investments, job creation and sustainable growth. The new platform will be launched during a two-day conference taking place today and tomorrow, and attended by European Commission Vice-President responsible for Jobs, Growth and Competitiveness, Jyrki Katainen, European Commissioner for Regional Policy, Corina Creţu, and EIB Vice-President Wilhelm Molterer.

Speaking ahead of the launch, Katainen said: “There is money out there, but investors tell us that they need well-structured projects and access to clear information to reconnect investment finance with a pipeline of trusted projects. We want to fast track the work to set up a technical hub that will provide a one stop shop for advice and support for potential investors. The launch of fi-compass is an important step in the right direction.”

With the launch of fi-compass, the Commission and EIB aim to deliver the second pillar of the Investment Plan, which centres on enhancing technical assistance (with an advisory hub to provide all the necessary financial and technical support to public and private promoters) and providing transparency to investors. A transparent project pipeline of viable projects will be launched with the EIB later this year.