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JESSICA Progress report and key issues Rakesh BHANA JESSICA and Investment Funds, European Investment Bank Brussels, 28 June 2011.

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Presentation on theme: "JESSICA Progress report and key issues Rakesh BHANA JESSICA and Investment Funds, European Investment Bank Brussels, 28 June 2011."— Presentation transcript:

1 JESSICA Progress report and key issues Rakesh BHANA JESSICA and Investment Funds, European Investment Bank Brussels, 28 June 2011

2 EC/EIB Evaluation Studies OP specific studies : Assess feasibility in the context of ERDF OPs & develop architecture in specific operational context of (pilot) city, region or Member State Horizontal (thematic) studies : Provide horizontal assistance and direction in the development and implementation of JESSICA instruments Evaluation Studies Q Identified614 Completed495 Total Supporting stakeholders : JESSICA evaluation studies

3 Completion/launch of horizontal studies Completed : HF Handbook, UDF typologies & governance structures Underway : UDF Handbook, Energy-focused UDFs, Housing, Assessing Socio-Economic impact Potential : Smart cities Further evaluation studies for interested constituencies - Studies initiated also for Hungary, Slovenia, Italy (Marche region - Pilot funds) Total of 65 studies launched over 21 Member States Supporting stakeholders : JESSICA evaluation studies

4 JESSICA funds in place (May 2011) 19 JESSICA Operations - EUR 1.6 billion committed HFUDF EIBOther institutions Bulgaria Moravia Silesia (CZ) Greece Campania (IT) Sicily (IT) Lithuania Pomerania (PL) Silesia (PL) Western Pomerania (PL) Wielkopolska (PL) Portugal Andalucía (ES) London (UK) Northwest England (UK) Scotland (UK) Estonia (KredEx – loan and export guarantee fund) Brandenburg (DE) (ILB – promotional bank) East Midlands (UK) (King Sturge Financial Services) Wales (UK) (Amber Infrastructure and Lambert Smith Hampton) Operational Agreements under HFs : Estonia (Swedbank, SEB) Lithuania (Šiaulių bankas x 2, Swedbank, SEB) Westpomerania (PL) (Bank Ochrony Srodowiska, Bank Zachodni WBK) Wielkopolska (PL) (Bank Gospodarstwa Krajowego) Andalucia (ES) (BBVA, ACF) London (UK) (Foresight)

5 EIB JESSICA implementation progress (May 2011) 15 EIB Holding Funds (HFs) – Covering 43 NUTS 2 regions – 2009 : 8 EIB HFs; EUR911m committed – 2010 : 15 EIB HFs; EUR1.5bn committed; 5 UDFs signed Around 1/3 directed towards sustainable energy investments – 2011 : 15 EIB HFs; EUR1.5bn committed; 10 UDFs signed – 2011 : Further HF + UDF signatures imminent Steady implementation of all HF mandates

6 EIB JESSICA Holding Funds Key implementation stages: 0 Pre-negotiation Stage/ HF Agreement to be signed 1 HF Agreement signed/ Investment strategy/ Investment board 2 Call(s) for Expression of Interest in preparation 3 Call(s) for Expression of Interest launched 4 Call(s) for Expression of Interest closed 5 UDF(s) selected 6 Operational agreements in place (HF/ UDF)

7 EIB JESSICA implementation progress Urban Development Funds (UDFs) – 10 UDF lots signed : Lithuania (4), Westpomerania-PL (2), Wielkopolska-PL (1), Andalucia-ES (2), London-UK (1) – 7 further UDF selections completed : Sicily-IT (1), Portugal (3), London-UK (1), Northwest England-UK (2) = 17 UDFs underway (Operational Agreements signed or under negotiation) – 7 further UDF selections currently underway : Bulgaria (1), Moravia Silesia-CZ (1), Greece (1), Sicily-IT (1), Pomerania (1), Silesia (1), Scotland-UK (1) Project-level investments made : Lithuania, Poland

8 Thank you

9 JESSICA and Investment Funds European Investment Bank Bvd Konrad Adenauer, L-2950 Luxembourg Contact


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