La presente informativa è resa, anche ai sensi dell’art. 13 del D. Lgs. 196/2003 “Codice in materia di protezione dei dati personali” (“Codice Privacy”) 
e degli artt. 13 e 14 del Regolamento (UE) 2016/679 (“GDPR”), a coloro che si collegano alla presente edizione online del giornale Tribuna Economica di proprietà di AFC Editore Soc. Coop. 

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The Commission has published the Annual Summary Report on the implementation of financial instruments in 2020. The report shows that financial instruments have supported European small and medium sized companies (SMEs) and other recipients for a total of €29 billion in 2020. Out of these, €21.6 billion (of which €7 billion for working capital)

under the European Structural and Investment Funds (ESIF) have underpinned 478,000 SMEs, including 375,000 microenterprises.

Financial instruments as a crucial means to help mitigate the economic effects of the crisis.    Financial instruments such as equity and debt, loan guarantees, venture capital and risk sharing facilities have proved to be a resource-efficient way of using Cohesion policy resources, even more in times of crisis. The coronavirus pandemic hit SMEs particularly hard, and many workers were at risk of losing their jobs where businesses were struggling to survive. Financial instruments have been crucial to deploy support to the SMEs most in need and thus helped to mitigate the negative economic effects of the coronavirus crisis on regions and cities in the EU. In particular, financial instruments under the European Regional Development Fund provided help in the form of financial products like loans, guarantees and equity. Compared to 2019, 365,000 additional SMEs received support via financial instruments, meaning about 1000 more SMEs per day, for a total of 478,000 SMEs in 2020.

Additional flexibility thanks to the EU.    Financial instruments have proved to be an asset, especially thanks to the additional flexibility provided by the Coronavirus Response Investment Initiative (CRII) and Coronavirus Response Investment Initiative Plus (CRII+), where Member States could address resources to the changing needs of the recipients. Another key characteristic of financial instruments is their leverage effect as they can attract additional investments from private or public investors. Finally, they are a cost-efficient delivery mechanism with very low management costs and fees.