Commission Implementing Regulation (EU) 2016/1157 of 11 July 2016 amending Implementing Regulation (EU) No 964/2014 as regards standard terms and conditions for financial instruments for a co-investment facility and for an urban development fund

This Regulation lays down rules concerning the standard terms and conditions for the following financial instruments: (a) a portfolio risk sharing loan (“RS Loan”); (b) a capped portfolio guarantee; (c) a renovation loan; (d) a co-investment facility; (e) an Urban Development Fund.’;

1 The Co-investment Facility shall take the form of an equity fund managed by a financial intermediary investing contributions from the European Structural and Investment Funds (ESIF) programme into small and medium-sized enterprises (SMEs). The Co-investment Facility shall attract additional investments in SMEs through a partnership approach with private co-investors on a deal by deal basis.

2 The Co-investment Facility shall comply with the terms and conditions set out in Annex V.

1 The Urban Development Fund shall take the form of a loan fund and shall be set up and managed by a financial intermediary with contributions from the ESIF programme and a mobilisation of co-financing of at least 30 % from the financial intermediary and co-investors. The Urban Development Fund shall finance and support implementation of urban development projects in assisted areas which are designated in a regional aid map for the period 1 July 2014 to 31 December 2020 in accordance with points (a) and (c) of Article 107(3) of the Treaty, as well as mobilise co-investment from private sources.

2 The Urban Development Fund shall comply with the terms and conditions set out in Annex VI.’;

This Regulation shall enter into force on the twentieth day following that of its publication in the Official Journal of the European Union.