JESSICA is an abbreviation for Joint European Support for Sustainable Investment in City Areas, which means common European support to the benefit of permanent investments in urban areas. The initiative is an instrument of a financial engineering, prepared by the European Commission, the European Investment Bank and the Council of Europe Development Bank.
Only five voivodeships in Poland decided to implement such initiatives, that is the usage of return financial instruments to support urban projects. Three of them are partners of Bank Gospodarstwa Krajowego. It resulted in financing of 82 fantastic projects. The joint amount of financial support, which was provided within JESSICA programme, totals 670 million zlotys. However, private entities also allocated their own means for that purpose – comments Dariusz Kacprzyk, chairman of the board in Bank Gospodarstwa Krajowego.
Currently, in JESSICA programme participate such voivodeships as: Greater Poland, Masovian, Pomeranian, West Pomeranian and Silesian. Among projects which gained support there are also i.a. development of Warsaw Koszyki Hall, development of Poznań Technology and Industry Park or development of Podwale Office Center in Poznań. Thanks to the loan, which was obtained on preferential conditions, we will be able to realize all social functions envisaged within the realization of the hall. The loan will enable us to even wider adjustment of this project to social needs – announces Dorota Wysokińska-Kuzdra, senior partner in Griffin Real Estate.
Dorota Wysokińska-Kuzdra points out that procedures, which are leading to obtain support from JESSICA programme, were very simple and this initiative assists with conducting projects which would not have any chances for commercial credit.