Presentation on theme: "1 JESSICA snapshot - an introduction Bjorn Gabriel, Policy Analyst, DG Regional Policy, D3 - Financial Engineering and Major Projects Conference on JEREMIE."— Presentation transcript:
1 JESSICA snapshot - an introduction Bjorn Gabriel, Policy Analyst, DG Regional Policy, D3 - Financial Engineering and Major Projects Conference on JEREMIE and JESSICA Brussels, November 2010
2 What is JESSICA? Current programming period offers MS the possibility to set-up complementary Financial Engineering Instruments (i.e. revolving funds) which provide repayable forms of Structural Funds assistance to final recipients and projects. Joint European Support for Sustainable Investment in City Areas - Joint initiative launched by the Commission with the EIB and CEB to –Promote the use of financial engineering instruments for sustainable urban development in the context of Cohesion Policy –Develop partnerships –Assist Member States in designing and implementing these revolving instruments, in co-operation with regions, cities, national and regional financial institutions and other investors.
3 How is JESSICA supporting stakeholders? JESSICA Evaluation Studies offered to ERDF Managing Authorities JESSICA Networking Platform (JNP) established in 2009 by the EC in co-operation with EIB and CEB as a forum for exchange of information, experiences and best practice –JNP events: Two Networking Platforms & Annual Conference per year –Horizontal Studies: Providing guidance on procedural aspects and operational matters relevant to stakeholders in all Member States Holding Fund Handbook UDF Typologies and Governance Structures Assistance in fund implementation: Possibility for MS to delegate the management of JESSICA operations
4 Where does JESSICA stand? 54 JESSICA Evaluation Studies commissioned in 19 Member States; 40 studies published (http://ec.europa.eu/regional_policy/funds/2007/jjj/jessica_en.htm) EUR 1.65 bn legally committed to 19 JESSICA instruments in 11 MS 5 funds at national level and 14 at regional level 16 HFs and 3 UDFs without HF 15 out of 19 funds or agreements managed by the EIB Seven energy-related JESSICA instruments are implemented in six MS, with a potential to invest up to EUR 780m in energy efficiency measures & renewable energies infrastructure in cities In the case of HF structures, selection of UDFs is taking place First project investments undertaken in Estonia, Brandenburg and Lithuania
5 Where do we go from here? Actual investments and disbursements at project level to increase significantly Further JESSICA operations in the pipeline Additional JESSICA Horizontal Studies to be launched in 2011 JESSICA Networking Platform (JNP) to be enhanced in 2011 Capitalise on implementation experiences and good practice for setting post-2013 directions
6 Thank you for your attention For further Information Website: DG REGIO – Unit D3 –Financial Engineering