Are financial instruments a successful and promising tool in the rural development area? : (pursuant to Article 287(4), second subparagraph, TFEU).

Format:

Book

Government document

Contributor:

European Court of Auditors, issuing body.

Series:

Special report (European Court of Auditors) ; no. 2015/5.

Special report, 1831-0834 ; 2015, no 05

Language:

English

Subjects (All):

Rural development--European Union countries.

Rural development.

Financial instruments--European Union countries.

Financial instruments.

European Union countries.

Physical Description:

59 pages : color illustrations, color map ; 30 cm.

Place of Publication:

Luxembourg : Publications Office of the European Union, 2015.

System Details:

text file

Summary:

"The Court examined the success of financial instruments (loan and guarantee funds) in rural development during 2007-13 and their potential for the 2014-20 period. It found that they had so far been unsuccessful, mainly because they were overcapitalised and had not fulfilled their potential in terms of the desired leverage and revolving effects. As for 2014-20, despite improvements in the background legislation, the Court concluded that it would still be a considerable challenge to achieve the desired impact." -- Page 4 of cover.

Contents:

Executive summary

Introduction. Previous Court audits; The rationale for the financial instruments; Recent developments; Financial instruments in rural development; Management of the financial instruments in rural development

Audit scope and approach

Observations. Were financial instruments set up and capitalised properly in the 2007-13 programming period? ; Did financial instruments perform well in the 2007-13 period?; Were adequate winding up and exit policy conditions in place in the 2007-13 period?; Does the 2014-20 framework have the potential to provide the necessary improvements for financial instruments?

Conclusions and recommendations

Annex I: Estimate of the overcapitalisation of the guarantee funds at 31 December 2013 according to the risk exposure ratio

Annex II: Overview of the main weaknesses reducing the performance of the financial instruments audited

Reply of the Commission.

Notes:

"European Court of Auditors"--Cover.

"QJ-AB-15-004-EN-C"--Page 4 of cover.

Includes bibliographical references.

ISBN:

9789287223029

9287223025

OCLC:

913815614