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 Funding Mechanisms 

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In the context of the new financing mechanisms promoted by the European Commission, namely the transition from grants to the provision of lending products under favourable terms as well as the attraction of private sector funding ensuring the sustainability of future investments, the Ministry of Economy and Finance (MEF), in cooperation with the European Investment Bank Group (EIB), is promoting the creation of modern financing instruments with a multiplying effect of the funds provided. The repayment of such funds will lead to re-investments in new activities. The main characteristics of the new financing instruments are summarised as follows:

  • Revolving: granting of lending products under favourable terms, the repayment of which is used for re-financing new projects (ability of re-utilisation of resources).
  • Leverage: ability to combine lending products with private resources (attraction of private sector funds).
  • Sources of funding: resources earmarked under the Operational Programmes (at a National or Regional level) may be combined with funding from the EIB.
  • Fund of funds: central unit for managing more than one fund.

Last modification date: 07/12/2009