The JESSICA initiative aims at ensuring additional recourses to the EU Structural Funds for realization of projects for Public-Private Partnerships and as a whole for renovation of the urban area and implementation of urban development projects in the EU.

Thus JESSICA has an objective to complement the traditional use of the Structural Funds for grant awarding and provides opportunity to the Member-States to use part of these amounts for revolving investments in projects, which are part of an integrated plan for sustainable urban development and have purpose to strengthen the role of renewed urban areas for stimulating sustainable economic growth and competition.

Achieving this objective insists specific strategies, which define investment frameworks and complement the construction of infrastructure and public buildings through integrated approach as wide range of partners with different opportunities for financing and management skills are incorporated.

At present in the European Union 23 JESSICA operations are active in 10 Member-States amounting to 1.85 bln. €.  A total of 15 Holding Funds have been founded with participation of the European Commission’s partner in the process of JESSICA implementation – the European Investment Bank. The Urban Development Funds created are 33 till the moment.

In the EU framework investments under JESSICA at Urban Development Project level are done in Poland, Lithuania, UK and Portugal at present.

 (Official web site of the European Commission for JESSICA initiative: http://ec.europa.eu/regional_policy/thefunds/instruments/jessica_en.cfmcfm

Last modified: Wednesday, August 08, 2012 1:23 PM