About the JESSICA initiative
JESSICA (Joint European Support for Sustainable Investment in City Areas) – is an initiative of the European Commission and the European Investment Bank that allows Member Countries to finance investments in urban areas. Financing the investment takes the form of repayable instruments (e.g. loans) so once invested funds can be repeatedly used.
The JESSICA initiative is one of the most important instruments to support investments in urban areas. The range of support under the initiative also includes a wider and wider circle theme – starting with the revitalization, through education, culture, tourism, transport, ending with renewable energy sources.
JESSICA allows to use EU structural funds in the repayable system, which offers a revolving financial instruments (loan, guarantees), giving the opportunity to make better use of structural funds and attract the participation of financial institutions, banks and businesses, including through public-private partnership – explains Piotr Podębski, Director of the Centre for Corporate BOS in Szczecin, which is a partner in the project KTBS reconstruction quarter.
In Poland, Jessica is implemented regionally under the Regional Operational Programmes (ROP), with a total amount of funds for use of more than 256 million Euros. At the stage of preparing the programs decision on accession to the JESSICA initiative belonged to management boards of provinces. Two of the most advanced regions (also in Europe) in the implementation of the JESSICA are: Wielkopolska and Zachodniopomorskie.
JESSICA is a unique financial instrument that comprehensively supports the development of our region – said Olgierd Geblewicz, Marshal of the West Pomeranian. – The current projects focus on the so-called social aspect, which is estimated on the basis of superiority of positive social interactions on the part of commercial investment. For us, who are responsible for improving the living conditions of the inhabitants of the region, Jessica is one of the favourite EU forms of support. We are proud that with such help we can win the development of such beautiful towns like (as) Kamien Pomorski.