Presentation on theme: "JESSICA and EIB financing of Cities"— Presentation transcript:
1 JESSICA and EIB financing of Cities Working with the EIBKatowice, January 11 and 12, 2007THINK REGIONALLY AND ACT LOCALLYTowards More Resilient CitiesBrian FieldUrban Planning and Development AdviserEuropean Investment BankJESSICA and EIB financing of CitiesFrank LeeJanuary 2007The Urban Dimension of Cohesion PolicyEuropean Week of Cities and Regions Open DaysBrussels, 11th October 2011
2 PLANNING, SUSTAINABILITY & THE URBAN AGENDA Sustainable development has finally moved from the periphery to the mainstream of the urban agenda.
3 THE LEIPZIG CHARTER SUSTAINABLE COMMUNITIES Innovation and education policiesImprove physical environmentHigh quality public spacesSUSTAINABLECOMMUNITIESLocal economy and labour market policiesEfficient affordable transportRegenerate deprived neighbourhoodsInfrastructure networks and energy efficiencyTraining for children and the young
4 INVESTMENT IN SUSTAINABLE COMMUNITIES KNOWLEDGEINFRASTRUCTURESUSTAINABLECOMMUNITIESENVIRONMENTSOCIALSKILLSREAL ESTATEDEMOGRAPHICLOGISTICSINTANGIBLETANGIBLECITY ASSETS
5 OVERCOMING FRAGMENTATION INTEGRATED PLANNING An integrated approach to urban development for the effective improvement in the socio-economic conditions of regions requires the identification of cooperating elements of infrastructure investments with the evolution of social capital that should be developed simultaneously in the areas where applied.
6 THE BANK RESPONSE Traditional Lending Structured Finance An Implicit Action Plan for CitiesTraditional LendingStructured FinanceFinancial EngineeringTechnical AssistanceNetworking/PartneringTargeted investmentin more sustainableurban regenerationand renewal
7 THE FOUR KEY ELEMENTS Technical Assistance. Provide technical support to prepare bankable projects, e.g. JASPERS, ELENA etc.Traditional Lending.Increase lending by encouraging greater use of framework and global loans, as well as project-specific investment loans.Financial Engineering.Support the use of new financial instruments such as JESSICA and JEREMIE.Structured Finance.Taking more risk by extending the scope of the Bank’s Structured Finance Facility (SFF) to include urban investments.
8 SUSTAINABLE PROJECTS The EIB’s « three pillars » Eligibility = consistency with EU prioritiesTechnical quality and economic soundnessFinancial viability and adequate securityComplies with EU procurement and environmental and social protocolsA project assessment with many facets8
9 FLEXIBILITY & RESILIENCE The sustainable cities paradigm increasingly includes much stronger emphasis on the concept of resilience, i.e. the ability of cities and city systems to respond and/or rebound quickly from global shock and other unforeseen eventualities.
10 PRINCIPLES FOR RESILIENT CITIES Resilient cities are prepared, i.e. they are able to attract long-term investors who can continue to build value over the long-term as they adjust and succeed in changing environments.The debate has focussed on the twin track of “continuity” and “adaptability”, where continuity relates to a city’s ability to avoid and manage major shocks while adaptability constitutes a city’s ability to respond to major trends while spreading and managing their risks.
11 COMMUNITIES, GOVERNANCE & LEADERSHIP Truly sustainable and resilient cities and communities will be those where informed political leadership and municipal governance are accompanied by a balanced approach to environmental, economic and social well-being.
12 THE COMPETITIVE CITY CIRCUS Two themes appear to permeate the resilience debate and have obviously informed policy-makers, i.e. an economic imperative for cities to compete in what is fast becoming something of a circus, and the perceived importance of big/mega projects often designed by signature architects (so-called global destination projects).City leaders need to avoid an ill-considered rush to compete and, when eventually doing so, should focus on their comparative advantage and give priority to investment in projects that differentiate their offer from that of their competitors.
13 COMMUNITIES MATTERThe sustainability and resilience debate is not just about economic advantage, even when tempered with a slick gloss of eco-branding, it’s about communities. It’s about changing the way people and societies behave. The sustainability debate ignores the societal content at its peril.Sustainable cities need sustainable communities, and to engage communities in the sustainability agenda, people need to feel involved and have a genuine say in decision-making. Astute leaders will ensure that they do so.
14 THINK REGIONALLY AND ACT LOCALLY Resilience will be founded, as it always has been in the past, upon strength and quality of political leadership, and the collective, mutually supportive response of urban communities and neighbourhoods, and this will flow directly from new and emerging governance structures which genuinely involve everybody in setting the agenda…(after Charlie Hughes of Smart Futures, The Future Cities Forum, December 2010).
15 EIB CONTACT INFORMATION Brian G. Field Urban Planning and Development Adviser European Investment Bank 100 boulevard Konrad Adenauer L-2950 Luxembourg Tel: Fax: