News and Analysis
Fund of Funds Presented the Urban Development Fund at a Professional Gathering in Brussels
For a second year in a row, Fund of Funds (FoF) experts took part in the central Fi-Compass Platform event held between 3 and 5 December 2018 in Brussels, Belgium. The event draws participants from all EU Member States and provides an opportunity to exchange experiences and ideas on a range of issues relating to the European Structural and Investment Funds. The topics of this year’s event, which was attended by some 400 participants, focused on the future of the ESIF financial instruments and the new opportunities offered by the Omnibus Regulation. The Fund for Sustainable Cities (FSC) Consortium and the Regional Urban Development Fund, the financial intermediaries selected by the FoF for the Urban Development Fund (UDF) under the OPRG 2014-2020, also featured among the invitees.
The FoF’s experience in setting up the UDF financial instrument was presented by experts as a best practice example in structuring ESIF financial instruments. The FoF representatives gave further details about the UDF and the Fund’s activities. Then the UDF financial intermediaries took the floor and talked about their strategies in implementing the projects and the challenges they encountered in the selection procedure.
The discussion panel after the presentation included Lazar Petrov, Head of the FoF Financial Instruments and Operational Programmes Department, and Kamen Slavov, Head of the Financial Instruments Unit. The discussion covered a number of topics such as structuring and implementing FIs, challenges to overcome along the way, and coordination between the FoF and the fund managers.
The Fund of Funds joined Fi-compass after the European Investment Bank (EIB) extended a special invitation, in acknowledgement of its expertise and good practices it has gained in developing the UDF financial instrument.
Fi-Compass is a platform for advisory services on financial instruments under the European Structural and Investment Funds (ESIF) and is made available by the European Commission in partnership with the European Investment Bank. It is a reliable Commission tool that is particularly appreciated by managing authorities, financial intermediaries and other stakeholders interested in the practical aspects of ESIF financial instruments.