Contents
Article 1#
Implementing Regulation (EU) No 964/2014 is amended as follows:
(1)Article 1 is replaced by the following:‘Article 1Subject matterThis 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.’;
(2)in Article 3 the title is replaced by the following:‘Article 3Grants under the standard terms and conditions’;
(3)the following Articles 8a and 8b are inserted:‘Article 8aCo-investment Facility1.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.Article 8bUrban Development Fund1.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.’;
(4)Annexes V and VI as set out in the Annex to this Regulation are added.
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