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financial engineering for local development is a project funded by the European Commission for Employment and Social Affairs. The project brings together a partnership of experts in the fields of community development finance, enterprise development and European funding from six European countries. This partnership comprises nef in the UK, Agence Alter in Belgium, Eficea in France, Evers & Jung in Germany, Documenta in Spain and Consorzio ETIMOS in Italy.
Financial engineering refers to the use of innovative financial instruments for the regeneration of local economies. This project has been designed to raise awareness of these financial instruments and how they can most effectively be used, particularly amongst local and regional public officials.
Through the development of briefing materials, a website and the organisation of networking and training events we are sharing best practice in the design, development and implementation of financial instruments, such as credit or equity-based products or guarantee systems.
We are also helping to build partnerships and networks, disseminating information on how European funds can be used for financial engineering and providing feedback to the European Commission on their policies and regulations affecting financial engineering.
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