Brussels, 28/04/2015 (Agence Europe) - In a special report published on Tuesday 28 April, the European Court of Auditors (ECA) says that financial instruments (loan and guarantee funds) have so far been unsuccessful in the field of rural development.
This is mainly because they were overcapitalised and did not fulfil their potential in terms of the desired leverage and revolving effects. The legal framework for 2014-2020 has the potential to improve these instruments, but obstacles to their...