JESSICA

Website: ec.europa.eu/regional_policy/funds/2007/jjj/jessica_en.htm

JESSICA is a joint initiative of the European Commission supported by the European Investment Bank (EIB). It aims to help authorities in the Member States of the European Union exploit financial engineering mechanisms to support investment in sustainable urban development in the context of cohesion policy and to provide new opportunities to Managing Authorities responsible for the next generation of cohesion policy.

Management authorities in the Member States will be allowed to use some of their Structural Fund allocations - principally those supported by the European Regional Development Fund (ERDF) but also, where appropriate, the European Social Fund (ESF) - to invest in Urban Development Funds (UDFs) to accelerate investment in urban areas.

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