JESSICA 4 Cities : How can cities make the most from Urban Development Funds
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09 October 2017JESSICA 4 CITIES is an URBACT project that has worked for two years on exploring how cities can make the most from Urban Development Funds aimed at financing integrated plans for sustainable urban development. Following the conclusion of its programme of exchange and learning activities, Jessica 4 Cities has published its providing valuable support for policy makers and practitioners on the opportunities offered by the JESSICA initiative. Here is a look at the project final results and outputs!
JESSICA, Joint European Support for Sustainable Investment in City Areas, is an initiative of the Commission in cooperation with the European Investment Bank (EIB) and the Council of Europe Development Bank (CEB), in order to promote sustainable investment, and growth and jobs, in Europe’s urban areas. JESSICA has been considered from its very beginning a very positive initiative within the framework of European instruments for local urban development. The JESSICA initiative (together with JEREMIE and JASMINE) has attracted the attention of many Managing Authorities and Municipalities. JESSICA will offer the managing authorities of Structural Funds programmes the possibility to take advantage of outside expertise and to have greater access to loan capital for the purpose of promoting urban development, including loans for social housing where appropriate.
Launched In April 2008, JESSICA 4 Cities URBACT project had the close involvement of the European Investment Bank (EIB). The project worked on a two way bridge, on the one hand to determine how in practice European cities can draw the maximum benefit from Urban Development Funds supported through JESSICA and on the other hand how the implementation of JESSICA can be structured having regard to existing Structural Fund regulations to best accommodate the needs of cities. Each city in the project has developed strategies and integrated plans for sustainable urban development; which contain projects that are capable of being funded by JESSICA type instruments.
The final Report is an interesting compendium on how to use Private Public Partnerships for urban investments in the best way; how to make the best use of Structural Funds to finance part of the initiatives; how to increase efficiency and productivity by using innovative and revolving instruments in the urban sectors; how to mobilize additional resources by the leverage effect; and how to use financial, managerial and project expertise coming from the private sector and from EU financial institutions such as the EIB. It includes articles explaining the experiences shared between network partners during the lifecycle of the project and partners' case studies– Region of Tuscany, AGMA Greater Manchester Authority, Porto Vivo - Sociedade de Reabilitação Urbana, Brasov Metropolitan Association, Municipality of Athens Development Agency and Poznan.
Read More:
- – URBACT website
- Jessica 4 cities – URBACT website
- Conclusion of 6 URBACT projects: Final publications now available! – URBACT website
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