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JESSICA : Mainstreaming Urban Dimension JESSICA Task Force Prague, March 2009

JESSICA : Mainstreaming Urban Dimension JESSICA Task Force Prague, March 2009. JESSICA and Urban Mainstreaming 1. Urban actions are vital elements of 2007-2013 Operational Programmes

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JESSICA : Mainstreaming Urban Dimension JESSICA Task Force Prague, March 2009

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  1. JESSICA: MainstreamingUrban Dimension JESSICA Task Force Prague, March 2009

  2. JESSICA and Urban Mainstreaming 1 • Urban actions are vital elements of 2007-2013 Operational Programmes • In the time of recession EU institutions support MS and regions in their recovery efforts by accelerating investments in cohesion policy programmes • public resources are scarce ►need to create mechanism ensuring sustainability • cities are key players to boost economy and create dynamic and competitiv environment for investments

  3. Aging population EU 27: by 2050 48 mln fewer 15-64 year olds/ 58 mln more citizens over 65 Outmigration of young people Consequences: ►low growth potential due to the shrinking labour force ►regions in demographic decline will facedifficulties in financing essential public goods and services What are the key problems of the european cities? Threat of demographic decline Labour gaps The number of working age citizens will stagnate or shrink while the number of retirees explodes ►household financial power mayslow ►from 2017 shrinking workforce may reduce overall employment and slow down potential growth in the EU Urban migration

  4. How to respond to this situation? • In theory... • Cities and regions have to make strategic and targeted investments in order to: • prevent demographic decline in some regions/cities, • make urban areas more attractive in order to stop outmigration of qualified workforce • ensure sustainable development of urban areas • In practice...GO FOR JESSICA (Joint European Support for Sustainable Investment in City Areas)!

  5. JESSICA IMPLEMENTATION MODEL EUROPEAN COMMISSION Structural Funds Grant (not repayable as long as EC Regulations adhered to) OTHER INVESTORS (Public & Private) MEMBER STATE Via a designated Managing Authority CITIES Holding Fund optional Contribution (repayable or non-repayable) URBAN DEVELOPMENT FUND IFIs/Public Agencies/ Banks Investment (equity, loan or guarantee) Projects forming part of an Integrated Plan for Sustainable Urban Development 5

  6. Benefits for the cities Revolving financial instrument – sustainable investments in urban projects by the UDFs Promotion of the PPPs, loan capital contributed by the EIB, CEB, other finantial institutions and investors Once launched will enableexchange of experience/ knowledge networking, and thus easier implementation of JESSICA in other regions Will promote long-term thinking as regards use of structural funds for urban investments „Pay-back” character of JESSICA’s investments should ensure better use of structural funds Benefits for the banks Possibility to provide lending to businesses hit by the global economic crisis by the means of revolving instrument Managing UDFs Benefits for investors (other than banks UDF managers) Influence on the investment portfolio Cooperation with adequate public institutions Remuneration for the managment ofUDFs Long term participation in the programme aiming at development of urban infrastructure of the regions JESSICA as URBAN mainstreaming instrumentand... FACING the Financial Crisis

  7. JESSICA in C&E Europe – state of playPOLAND JESSICA legal study completed (Analysis of Legal Conditions for the Implementation of the JESSICA Initiative in Poland) JESSICA business study completed (Evaluation Study on the implementation of JESSICA Instruments in South/West Poland First strategic decision has been taken by Wielkopolska Region to establish a JESSICA Holding Fund together with EIB. Zachodniopomorskie, as second region, to follow shortly. Wide-spread interest from other regions and cities, but- “wait and see approach. 7

  8. JESSICA in practice: Wielkopolska Marshall Office - WRPO Revitalisation of city areas 40M EUR Measure Preparation of investment areas 10M EUR • Wielkopolskievoivoidship HF EIB Subsidy Fund HF JESSICA Fund 50M EUR UDF Cities with population above 50 000: Poznań, Kalisz, Konin, Ostrów Wielkopolski, Piła, Gniezno, Leszno Cities with population below 50 000 Loan Equity Guarantee Repayment Repayment Loan Equity Guarantee Projects Projects

  9. JESSICable projects in Poland Regeneration of Old Gas-Works buildings in Poznań, Wielkopolska ►tranformation of the 19th century Gas-Works into cultural centre Reconstruction of ten tenement houses in Szczecin, Zachodniopomorskie ►The houses will be modernised, with ground floors changed intocommercial area, first floors into offices, and the remaining floors – into apartments.

  10. JESSICA in C&E Europe – state of playLithuania • Great interest in JESSICA although limited amount can be invested in urban projects • JESSICA Evaluation Study for Lithuania completed • Talks with Ministry of Finance are advancing and it is expected that an urban development fund supporting energy efficiency projects in the housing sector in Lithuania will be created in the nearest future.

  11. JESSICA in C&E Europe - brief overviewCzech Republic • Moravia-Silesia Cohesion Region and the city of Ostrava are the most interested in implementing JESSICA. Further actions will focus on launching a pilot JESSICA scheme in Moravia-Silesia region • JESSICA study is ongoing • Several other enquiries from both public and private sectors in the Czech Republic indicating growing interest in JESSICA

  12. PAN-European Brief overview JESSICA-current and anticipated operations in MS

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