1. Marek Szczepański Wielkopolska UDF Director of European Programmes Department at BGK Working Group JESSICA – lessons learned – proposal of action plan Brussels, 28 June 2011 JESSICA NETWORKING PLATFORM sixth meeting

2. Background – why do we need working group? JESSICA – a pilot approach Possible modifications of JESSICAs regulatory framework can help to increase the attractiveness and improve effectiveness of this kind of support Likely increase of al engineering instruments scope and role in the next programming period 2

3. Objectives of the Working Group Sharing experience (successes and failures) on implementation of JESSICA Initiative in Member States Practical assessment of JESSICAs effectiveness under the current regulatory framework Identification of common areas of concern for all stakeholders (i.a. procedural aspects and operational matters proven to be difficult, problematic or ineffective to JESSICA stakeholders) Development of proposals of temporary (applicable under the current regulatory framework and COCOF notes) and future solutions (that could be developed in the next programming period) to the issues concerned 3

4. Proposed outputs Submission of opinions and operational recommendations to European Commissions financial engineering instruments proposals (i.a. to the new regulatory framework) Presentation of reports on the Groups findings and recommendations on the plenary meetings of the JESSICA Networking Platform (JNP) 4

5. Members of the Working Group The open group, no formal invitation or approval for participation in meetings and e-mail correspondence Members: – interested representatives of UDFs – representatives of JESSICA and Investment Funds Division of EIB – interested representatives of other Holding Funds – interested representatives of Managing Authorities 5

6. The Group Coordinator proposes first topics that will be subject to the Groups considerations initiates the discussions among the WG members reports the WG findings and recommendations to the plenary meetings of the JNP submits the WG opinions and recommendations on JESSICA to DG REGIO 6

7. Cooperation process Identification of problematic areas allocation of tasks among members members propositions discussion common position mainly email exchange; the meetings in the course of the JNP events or at the margins of the JNP meetings (DG REGIO, EIB, UDFs headquarters) WGs activities facilitated and supported by EIB (operational assistance and logistical support) an internet platform could be created to facilitate exchange of experiences and opinions activity by the end of 2012 with possibility to extend operations if UDFs established in the next programming period will find it useful and request its extension 7

8. Wielkopolska UDF proposal of the issues to be considered (1) Management fee – calculation of the management fee on the basis of total amount allocated for the UDF The profitability of the projects – potential conditions for financing of investments not generating a sufficient financial surplus Exit strategy from the UDF – how to terminate the activity of the UDF and what should be the future usage of JESSICA funds after their first turnover 8

9. Wielkopolska UDF proposal of the issues to be considered (2) UDFs risk appetite – consent to invest in urban projects with the increased level of risk External financing of the UDFs – incentives to be applied to induce private sector participation Using JESSICA scheme in ppp projects 9

10. First cornerstones of the Work Plan 28 June 2011 – launch of the Group 15 July 2011 – the deadline to express interest in participation in the Group and to propose subjects of the Groups debates (jessica.lessons.wg@bgk.com.pl) 29 July 2011 – agreement of the scope of the Groups considerations (list of topics) and tasks allocation between the Groups members September 2011 – presentation of solution proposals by the Group members at the margins of the international JESSICA conference in Poznań 10

11. Thank you for your attention Marek Szczepański Director of European Programmes Department at Bank Gospodarstwa Krajowego WG mail: jessica.lessons.wg@bgk.com.pl BGKs JESSICA contact point: JESSICA@bgk.com.pl www: www.bgk.com.pl/jessica