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Start Date: : 2014 (Completed)

Ex post evaluation of Cohesion Policy programmes 2007-2013, focusing on the European Regional Development Fund (ERDF) and Cohesion Fund (CF) – Work Package Three: Financial instruments for enterprise

European Commission Directorate-General for Regional and Urban Policy

The main objective of the evaluation study is to assess the rationale, implementation and early evidence of effectiveness of equity/venture capital, loans and guarantees (collectively “financial engineering instruments”, “financial instruments” or simply “FEI”s). Policy rationales and the literature are examined to develop typical theories of change for why and how the various FEIs work. These narratives are critically assessed using evidence from case studies.

The report of the study is available here.

Giovanni Familiari
Director and Partner

CONTENTS