28 Apr 2015
SUCCESS OF FINANCIAL INSTRUMENTS IN RURAL DEVELOPMENT – 28 APRILBrussels Daily
European Court of Auditors Special report No 5/2015: Are financial instruments a successful and promising tool in the rural development area?
The Court examined the success of financial instruments (loan and guarantee funds) in rural development during 2007-2013 and their potential for the 2014-2020 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 2014-2020, despite improvements in the background legislation, the Court concluded that it would still be a considerable challenge to achieve the desired impact. Read the report here