Evaluation studies : We are carrying out country or region specific evaluation studies at the request of managing authorities of Member States or regions. These comprise an analysis of the market gap for financial engineering instruments for the support of sustainable urban development in the regions of the European Union supported by ERDF. Horizontal (thematic) studies: In addition to the evaluation studies, Horizontal (thematic) studies relevant for the development of JESSICA are also an important tool to assist Member States and regions prior to implementation. We carry out these studies
for the Environment and will be cofinanced by ERDF funds. Against a background of water shortages, these schemes will have clear environmental benefits, contributing to the efforts to adapt to climate change and meet
Assessments are required under the Regional Operational Programme and the Cohesion Fund-ERDF National Operation Programme, in compliance with the requirements of the EU SEA Directive 2001/42/EC
and Diversification Investment Fund) will come from the 2007-2013 ERDF Regional Operational Programmes for Andalusia, the Canaries, Castilla y León, Castilla-La Mancha, Ceuta, the Valencia Region, Extremadura, Galicia, Melilla and the Murcia Region, where the investments will be made. Of that amount, EUR 87.8 million will come from the EU’s European Regional Development Fund (ERDF). The available resources
of the North West European Regional Development Fund Local Management Committee, said; "The Chrysalis Fund is of huge importance to Merseyside. ERDF funding is all about boosting local economies... of Igloo Regeneration Limited, GVA and RBC Capital Markets. There is a maximum lot size of £6m of ERDF funding (£12m total including match) in any single project.
by the Silesia region, of which EUR 51m is from European regional and development funds (ERDF) and EUR 9m from national matching funds.
Marta Gajecka, European Investment Bank Vice President responsible
the European Regional Development Fund (ERDF) and EUR 6m from national matching funding. EIB Vice President Anton Rop said: "Regenerating areas such as abandoned military and industrial sites
in the framework of the region’s 2007-2013 ERDF operational programme. The holding fund will in turn invest in UDFs, which will channel their resources into projects presented by promoters for financing
establishing Portugal’s JESSICA Holding Fund in the framework of the region’s European Regional Development Fund (ERDF) operational programme. This Agreement laid down the operating mechanism of the EUR
to finance the Region’s environmental investment programme up to 2014, which will also receive Community financing from the ERDF and the European Agricultural Fund for Rural Development. The programme
operating conditions
The package
•£25m ERDF (€30m)
•£15.4m match funding (€18.48m)
•Structural funds element of £40.4m
(€48.48m)
•Paid into the Regeneration Investment Fund
for Wales in March 2010
•£15m for non ERDF eligible investments
within an IPSUD also within the fund but not
the ERDF project
Going Forward
•Review project performance
•Continue proactive engagement
•Lessons Learned
•Liaison... , opportunity for those such
as Amber with experience in funding and delivering public sector projects (PPP/ PFI), in
running funds and raising capital.
• No additional match requirement – ERDF already
Guidance note on eligibility of energy efficiency and
renewable energies interventions under
the ERDF and the Cohesion Fund (2007-2013... of Justice and the Court of First Instance or evolving Commission decision making
practice."
2
DG REGIO services are frequently asked to which extent would be possible for the
ERDF... the possibilities to support this type of interventions.
I. Energy efficiency and renewable energies priorities for 2007-2013 under the
ERDF and the Cohesion Fund
Energy efficiency and renewable
Matthias Kollatz-Ahnen, European Investment Bank Vice-President responsible for the JESSICA programme, and Rosen Plevneliev, Bulgaria’s Minister for Regional Development and Public Works, today signed an agreement in Sofia establishing a JESSICA Holding Fund. This will focus on revenue-generating, urban development projects, including the rehabilitation of deprived urban areas in seven big cities across the country. The EUR 33 million fund, including EUR 28 million from the European Regional Development Fund (ERDF), is complemented by EUR 5 million of Bulgarian national co-financing
)
European Regional Development Funds (ERDF)
European Commission (DG-REGIO)
European Regional Development Funds (ERDF)
Managing Authority (MA) of ERDF resources under OP for 2007-2013Managing Authority (MA) of ERDF resources under OP for 2007-2013
E
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e
v
e
l
N
a
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i
o
n
a
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e
g
i
o
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e
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Holding Fund (optional)Holding Fund (optional)
UDFs
Urban Development Funds
UDFs
Urban
VENTURE CAPITAL LOAN FUND
FINANCED FROM ERDF
The case of Northwest England:
Challenges, Achievements and
Perspectives
David Malpass, Director of ERDF European
Programme,
Northwest England... million from ERDF to spend
in the Northwest between 2007 and 2013
• The NWOP has four priority areas for funding of which the
VCLF delivers under Priorities 1 and 2
• The NWOP aims by December... are disproportionately higher for smaller investments.
BACKGROUND - OBJECTIVES OF
NORTH WEST JEREMIE
• To create a lasting Evergreen legacy fund for the region after
the end of the ERDF programme
the importance of under
taking investments improving energy efficiency of the
buildings, including the housing sector.
The European Regional Development Fund (ERDF) sup
ports interventions... and control of operations that
receive an ERDF grant, particularly when linked to a result-
based reimbursement system, it is appropriate to add three
additional forms of eligible costs, namely...
should be applicable to all grants from the ERDF. Retroac
tive application should therefore be necessary with effect
from 1 August 2006, which is the date of entry into force
of Regulation (EC
as the Northwest Urban Investment Fund
The Northwest Regional Development Agency (NWDA), European Regional Development Fund (ERDF) and the European Investment Bank (EIB) have agreed to launch a new £100m fund... is an opportunity for the region to put a mechanism in place that will ensure we can prolong the benefit of our ERDF Programme. The Northwest Urban Investment Fund will allow us to invest in revolving funding... with funding from the ERDF programme this new fund has been made possible with the cooperation and support of the European Investment Bank (EIB). The £100m fund includes £50m from the ERDF
of the Northwest UDF Lot.
Answer The Rest of the Northwest UDF will receive £30m from the NWUIF -
£20m ERDF and £10m NWDA resources. The requirement to provide
Match funding at the UDF level is only applicable to the ERDF element.
These rules do not apply to the £10m NWDA contribution. The
Complementary Financing of £10m against this NWDA contribution can
therefore be provided at the UDF level or via investment at Urban
Project level.
Question 4.
Why has the ERDF not been split equally between Merseyside and the Rest of the
NW?
Answer The Northwest Operational Programme
, the French Government and the European Union (ERDF). The EUR 300 million EIB loan will specifically serve to facilitate traffic between Toulouse and St Sulpice, currently one of the busiest single
suppliers to consumers – both electricity distributers (ERDF and local distribution companies) and industrial users directly connected to the transmission network.
With 100 000 km of 63 kV to 400 kV
Regione Basilicata
Co-financing of investments of the Operational Programmes 2007-2013 under the Convergence objective in the Regione Basilicata.
The project comprises the Operational Programmes prepared by the region Basilicata for the European Regional Development Fund (ERDF) and European Social Fund (ESF) in the 2007-2013 programming period. The investment strategy will focus mainly on support of the sectors: human capital and services, transport, research, technological development, innovations and entrepreneurship, water and environmental protection.
Composite infra
Urban infra
Government of the Navarra Region
Framework loan for the financing of small and medium-sized investments primarily in the areas of health, education, RDI, culture and environment.
The plan seeks to contribute significantly to mitigate a likely phase of economic slowdown expected for the period 2008-2011, support job creation and create the conditions for sustainable development. It complements the Operational Plan Navarra 2007-2013 that was approved by the European Commission on 28 November 2007, co-financed by ERDF.
Urban infra.
Composite infra
Services
Health, Education
The project
de Andalucía IDEA
Venture Capital financed from ERDF – The case of Northwest England: challenges, achievements and perspectives by David Malpass Director of European Programme, Northwest Regional
électrique.RTE achemine l’électricité entre les fournisseurs d’électricité (français et européens) et les consommateurs, qu’ils soient distributeurs d’électricité (ERDF et les entreprises locales de
Valverde Ramos, Director-General of Agencia de Innovación y Desarrollo de Andalucía IDEA
Venture Capital financed from ERDF – The case of Northwest England: challenges, achievements and perspectives
des Stromnetzes verantwortlich. Die RTE überträgt den Stom zwischen den (französischen und europäischen) Stromerzeugern und den Verbrauchern, egal ob es sich dabei um Stromverteiler (ERDF und lokale
Manager, responsible for the JEREMIE Holding Fund for Greece, supported by the country's ERDF allocation within the convergence and competitiveness objectives. In general, the overall cooperation between... allocations (ERDF - European Regional Development Fund 2007-2013) to support start-ups and micro-enterprises through loans, equity, venture capital and guarantees together with EIB Group. Sustainable
, for either fund. Although
match funding is required to access ERDF and establish a JESSICA model, the
Scottish Government has provided the requisite match at Holding Fund level; and
the Big Trust is not subject to ERDF rules. Complementary finance is however
being sought through the Call for EoI, in order to increase the value of investment
being made in eligible projects. Please note that there is a very clear distinction
between match and complementary financing when it comes to the use of ERDF.
Question 13
Will the successful UDF be obliged to publicise the fund and the potential
(RISE) ........... 26
2.5 The City of Hamburg Operational Programme (ERDF 2007–2013)............. 28
2.5.1 Background... to ERDF rules and the
Operational Programme ........................................................ 38
3.1.1.3 Description of the project participants ................................... 39
3.1.1.4... for Hamburg – Final Report
3.1.2.2 Funding eligibility within the meaning of ERDF rules and
the Operational Programme ...................................................39
3.1.2.3 Description
Regional Development Fund (ERDF) programme in London is administered by the London Development Agency's European Programmes Management Unit on behalf of the Department for Communities and Local Government. The ERDF runs in seven-year cycles and the LDA, in partnership with the Mayor and in consultation with London stakeholders, provides the framework for ERDF investment. Between 2007 and 2013, London will benefit from €182 million (£170 million) from the ERDF, match funded by €200 million (£187 million) of national funding - total €382 million. It will also benefit from €443 million (£415 million
Use of ERDF funding in JESSICA funds
Issue paper on the legal environment
Disclaimer
This document has been produced with the financial assistance... be held responsible for the accuracy, completeness or use that may be made of
the information contained therein.
- 2 -
Use of ERDF funding in JESSICA funds
Issue paper on the legal environment... in the context of the ERDF ............................................................. 5
II. JESSICA
for Priority 3 (sustainable places for
businesses) in the London ERDF Operational
Programme. JESSICA provides a resource for
UDFs to ensure regeneration activity is delivered
in the most... displaying a long lead-time to generating
returns,
• A JESSICA Holding Fund should be set up to develop
a series of UDF investment opportunities aligned to P3
in the ERDF Operational Programme.
(4... study findings and the
current guidance notes.
Background to JESSICAr t I
This evaluation study was commissioned by the European Investment Bank (EIB) to
establish a rationale for ERDF to accelerate
by UDF could
also receive grant assistance from
OPs,
�Grant assistance from OPs could
finance the equity gap of projects
�Supported projects fall within the
ERDF /CF scope of intervention
Closure... for ERDF interim
payments
JESSICA ADDED VALUE, 2
�Recyclable ERDF contributions to Urban
Investment Funds or Holding Funds-
sustainability of investment
�Leverage effect from loan capital contributed
in one of the passenger terminals at Tenerife-South airport. The EIB's loan will complement the financing provided by the EU via the ERDF and will attract a 2% interest rebate, the cost of which... , including the Structural Funds (one of which is the European Regional Development Fund or the ERDF), financed from the Community budget, and loans from the EIB. The EIB and the European Commission work
Programme for the City of Berlin (ERDF 2007–
2013) 19
3.1.1 Initial situation 19
3.1.2 Framework conditions for future development 21
3.1.3 Objective system and regional development strategy under
the Operational Programme (ERDF) 23
3.1.3.1 Priority axis 1: Promoting business
competitiveness and start-ups 25
3.1.3.2 Priority axis 2: Innovation and knowledge-based
economy 25
3.1.3.3 Priority axis 3: Integrated urban development 26
3.1.3.4 Priority axis 4: Environment 27
3.1.4 Sustainability in the Operational Programme (ERDF) and
coherence with other support schemes 27
3.2
ERDF European Regional Development Fund
JESSICA Joint European Support for Sustainable Investment in City Areas
MI Mixed-usage area (“Mischgebiet”)
MK Mixed-usage core area/core area (“Misch... and knowledge-based activities, integrated urban development, the
environment, and technical assistance. ERDF funds amounting to around
€365,314,000 are available for integrated urban development... .
Diagram 4: The variants examined
Without
JESSICA
With JESSICA,
ERDF resources
calculated on
regular basis
With JESSICA,
maximum of
€5 million in
ERDF resources
Variant 1: With/without
and the Bank. The Commission will be able to draw on the EIB's know-how for evaluating projects eligible for financing under the ERDF (European Regional Development Fund) within the Union and ISPA
Commission’s JESSICA initiative represents the first step towards using ERDF structural funds for urban development on a more sustainable basis than before. The Saxony Urban Development Fund will be tested
, as an instrument of financial cooperation, is provided for in Andalusia's ERDF Operational Programme [1] for the period 2007-2013. The European Investment Bank is the European Union's long-term financing institution
The European Investment Bank (EIB) with support from the Northwest Regional Development Agency (NWDA) and European Regional Development Fund (ERDF) is today launching a Call for Expressions of Interest (EoI) with the aim of selecting two Urban Development Fund(s) (UDF) to receive resources from the North West Urban Investment Fund under the JESSICA initiative for the Northwest region of England. The Northwest Urban Investment Fund (NWUIF) is a new £100 million fund to help support urban development projects in England's Northwest. The fund is a Joint European Support for Sustainable
: challenges, achievements and perspectives by Antonio Valverde Ramos, Director-General of Agencia de Innovación y Desarrollo de Andalucía IDEA
Venture Capital financed from ERDF – The case
urban projects. The implementation of JESSICA, as an instrument of financial cooperation, is provided for in Galicia’s ERDF Operational Programme ( 2 ) for the period 2007-2013. The EIB is the European
by the Cohesion Fund and
the ERDF (to be intepreted flexibly in the smaller MS)
- other Cohesion Fund projects
- other ERDF projects
•sectors most likely to receive assistance: roads, rail,
public... on compliance with EU law (environmental,
competition and others) and conformity with EU policies
• Assistance will involve the review and completion of
applications for funding under CF and ERDF... by beneficiary countries
and DG-REGIO desks
9 JASPERS intervention requested for projects totaling
€ 57 Bn grant funding by CF and ERDF
16
Environment sector 56 actions
Water & waste water 20 actions
......................................................................... 26
3.3.1 ERDF expenditure ....................................................................... 26
3.3.2 Selection of Holding Fund and Urban Development Fund,
Compliance with public procurement... .................................................................. 47
4.6 The Flemish ERDF-programme ..................................................... 48
5 Theme 2: actors within the field of urban renewal ____________ 51
5.1... .......................................................... 93
7.3.4 Staffing and operating costs ......................................................... 93
7.3.5 Working with ERDF ...................................................................... 94
within the context of the ERDF Operational Program for
Western Finland.
Our report to you is based on our examination of data and information received
from a range of organizations including...
EIB European Investment Bank
ERDF European Regional Development Fund
ESF European Social Fund
EU European Union
Financial
Engineering
Instrument
In the context of Structural Funds and JESSICA... States that are part of the European Union.
PPP Public-private partnership
Structural Funds Contain funds from the EU set up to target specific
areas. The ERDF is the Structural Fund
would represent one such innovative delivery
structure. The Luxembourg Operational Programme is of relative small size - ERDF
totals EUR 25 million for the period 2007-13 - but the full... of integrated urban development plans.
Outlined below is a summary of the fund structuring process:-
1. A proportion of the Member State’s ERDF allocation is re-designated as a JESSICA
funding stream... the fund value.
5. The match funding can be provided as one payment, or else drip-fed into the UDF over
a period of time (in which case, the ERDF-JESSICA funding would be received on a
matching
ERDF monies could be used for JESSICA? 31
5. Implementing JESSICA in the North East ..................................32
5.1 Size of JESSICA Fund(s) 32
5.2 Options for JESSICA Structures 33
5.3... Midlands Urban Development Fund
ERDF European Regional Development Fund
ERR Economic Rate of Return
EU European Union
Enterprise Zone Areas designated by the UK government where reductions... for ERDF funds to be defrayed on eligible expenditure
by the end of two years after the end of the programme period; in this
instance n= 2013 and n+2 = 2015
NWUIF North West Urban Investment Fund
with PATHE, approved by the Essen European Council. It is therefore supported jointly by the Union structural funds (ERDF and the Cohesion Fund) through the successive Community Support Frameworks... is supported jointly by the successive Community Support Frameworks (ERDF and the Cohesion Fund) and the EIB. This is also a key transport project for Greece, included in the priority list of Trans
in urban projects within the period prescribed by ERDF rules.
Question 2.
Does the London Green Fund have a target return level it is seeking the UDF to
deliver on its investment?
Answer... of state aid compliant ‘match funding’ into
the UDF in their Offer. ‘Match funding’ should be drawn-down into the
UDF at the same time as the associated European Regional
Development Fund (ERDF
JESSICA Evaluation Studies offered to ERDF Managing
Authorities
square4 JESSICA Networking Platform (JNP) established in 2009 by the
EC in co-operation with EIB and CEB as a forum for exchange
Households 24
APPENDIX C – Key ERDF terms and conditions 25
APPENDIX D – Definitions and abbreviations used for the purpose of
this Call for Expressions of Interest 27... (ERDF) and that all resources are
therefore subject to the EU Structural Funds Regulations; and,
2. the information contained in this EoI and accompanying Annex 2 is complete and correct in all
its... Development Fund in London
The London European Regional Development Fund (ERDF) Operational Programme 2007-20131 (the
‘London OP’) provides a framework for the investment of €182m of ERDF allocated
with the procedure referred to in Article 103(2), when a contribution from
the ERDF or the Cohesion Fund is foreseen.
1
REGULATION (EC) No 1083/2006 of 11 July 2006
3. The Commission shall adopt... and medium-sized enterprises.
3
REGULATION (EC) No 1080/2006
Article 7
Eligibility of expenditure
1. The following expenditure shall not be eligible for a contribution from the ERDF... expenditure shall be either a maximum of 3 % of the ERDF
allocation to the operational programmes concerned or 2 % of the total ERDF allocation;
(c) expenditure shall be limited to:
— multi-family
and private sector stakeholders
• Applying for and managing ERDF funds, including the monitoring and reporting of
performance metrics
• Experience of establishing, appraising and managing... will be
superseded in 2011 with the Single Regional Strategy (RS2010).
b. The Northwest ERDF Operational Programme 2007-2013 (NWOP)
The NWDA manages the NWOP. In the Northwest, ERDF is one of two EU Structural Fund
programmes; the other is the European Social Fund, which in the Northwest is administered by the
Department of Work & Pensions and the Learning & Skills Council. ERDF funding
10.1 Financial risks
10.2. Compatibility with ERDF regulations
10.2.1. Eligibility of ERDF expenditure
3.3.2 Selection of the Urban Development Fund and conformity with public procurement and state...
JESSICA could be implemented in Wallonia. JESSICA is a financial engineering device
contrasting with subsidies currently granted by the ERDF under the form of grants to support
urban development... by ERDF. Since 1994, these
projects have been implemented in some large Walloon urban agglomerations, more
specifically in the Province of Hainaut and in the industrial area of Liège. The programming
’s small
size coupled with likely limitations on the initial ERDF allocation to the JESSICA initiative, the study
proposes, at an initial phase, the adoption of a single UDF investment approach to be deployed in
phases. An immediate decision as to the level of ERDF funds to be deployed via JESSICA, together with
the respective national funds’ matching will have to be taken at the very early... ;
• Ensuring longer term sustainable impact for the European Regional Development Fund (ERDF)
and other EU interventions.
Different models of applying JESSICA are in place which could
engineering tool created to improve both the allocation and use of
European Regional Development Fund (ERDF) resources for urban development, attracting at
the same time other financial sources.
JESSICA allows the revolving use of Structural Funds (in particular ERDF) for urban
development, going beyond the traditional model.
Main features of the JESSICA tool are presented as follows:
From... of about 338 Euro million from Community contribution and 814 Euro million
from national match funding.
The timetable for the estimated expenditure of ERDF resources suggests an annual use of
about
– Community Infrastructure Levy
DCLG – Department for Communities and Local Government
EC – European Commission
ECF – English Cities Fund
EP – English Partnerships
ERDF – European Regional Development... – Urban Development Fund
SHORT TERM JESSICA CONSULTANCY STUDY
EVALUATION STUDY FOR THE NORTHWEST REGION
2
EXECUTIVE SUMMARY
Introduction
With the 2007-13 ERDF programme likely to be the last of its... in setting up a regional JESSICA fund with a value of circa £50 million (half
ERDF cash and half land assets as match funding). Accordingly this study explores the
potential for JESSICA in the North
Development Fund
(hereinafter ERDF) for the period 2007-2013.
The coordinated action of the parties hereto shall be manifested through the joint work in
the Steering Committee (c.f. item 4... supported by the ERDF.
3. COORDINATED APPROACH IN THE PREPARATORY PHASE OF JEREMIE
JEREMIE evaluations
.
2
During the preparatory phase in 2006-2007, the EIF with the Commission... contribution from the
operation programme to the selected holding fund will be irreversible for the programming
period 2007-2013. It will constitute an eligible interim payment for the ERDF under
. It should also
take into account the definition of social housing in Article 7 paragraph 2 of ERDF
Regulations, in particular where the same project is financed by a combination of EIB
and/or CEB loans and ERDF contributions".
Integrated plans for sustainable urban development and renewal addressed by operational
programmes can include a social housing component, possibly eligible for loan financing
by the EIB and CEB in accordance with their rules and procedures, or by ERDF
contributions where eligible. The participation of other IFIs, public banks and, where
appropriate
Objective 6.1 of ERDF OP 27
3.2.1 “PIU Europa” initiative 27
3.2.2 “Altre Città” initiative 41
3.2.3 Conclusions 41
3.3 JESSICA Instruments in the Campania Region: architecture of the initiative 42
3.3.1... Strategico (City Strategy Development Guidelines)
EAFRD European Agricultural Fund for Rural Development
EC European Commission
EIB European Investment Bank
ERDF European Regional Development Fund
ESF... initiatives already undertaken
within the Campania Region, giving priority to those established within the framework of 2007-
2013 ERDF Operational Programme (ERDF OP), Operational Priority 6.1
– financial sources for urban development.......................52
1.6.1. ERDF planning....................................................................53
1.6.2. FAS Planning... . JESSICA is a tool with which Structural
Funds (in particular ERDF) for urban development can be used as revolving finance, allowing
other financial sources (public and private) to co invest in projects... – Structural Funds (especially ERDF) destined to the
financing of urban development initiatives, with JESSICA are used in a revolving manner,
the same financial resources can therefore be used more than one
of an allocation from the European Regional Development Fund (ERDF) and a budgetary contribution from Lithuania, financed through an EIB loan. This is the largest JESSICA Holding Fund set up so far and the first one
of the Regional Operational Programme for Moravia-Silesia, the Holding Fund has an initial size of EUR 20 million, comprising EUR 17 million from the European Regional Development Fund (ERDF) and EUR 3
) and an EUR 38 million (FRF 250 million) contribution from the European Regional Development Fund (ERDF). The EIB's involvement therefore represents additional banking support on a very long-term basis
is included in the Trans-European Network (TEN) priority investments list, as a major trunckroute. It is therefore supported jointly by the Union Structural funds (ERDF and the Cohesion Fund) and the EIB
functioning and safety of the power supply. RTE channels electricity between suppliers (French and European) and consumers, both power distributors (ERDF and local distribution companies) and industries
soient distributeurs d'électricité (ERDF et les entreprises locales de distribution) ou industriels directement raccordés au réseau de transport.. Avec 100 000 km de lignes comprises entre 63 000 et
europäischen) Stromerzeugern und den Verbrauchern, egal ob es sich dabei um Stromverteiler (ERDF und lokale Stromverteilungsunternehmen) oder um direkt an das Stromübertragungsnetz angeschlossene
of the SME-dedicated part of the structural funds (ERDF), to be
topped up by the EIB and other lenders and invested in or on-lent to venture capital, SME and micro-finance
organisations.
Part
European Investment BankEuropean Invest ent Bank
JESSICA instruments and modelling for
urban asset management
Gianni Carbonaro
JESSICA and Investment Funds Division
European Investment Bank
Modelling Cities and Urban Dynamics
EIB Session - 24th ERSA Summer School 2011
Monday 11th July 2011
2European Investment BankEuropean Invest ent Bank
European Commission (DG-REGIO)
European Regional Development Funds (ERDF)
European Commission (DG-REGIO)
European Regional Development Funds (ERDF)
Managing Authority (MA) of ERDF resources under OP for 2007-2013Managing Authority (MA) of ERDF resources
in the period 2007-
2013..........................................................................18
1.2.3 Sustainable urban and regional development in the OP (ERDF)
for North Rhine-Westphalia... ...............................................................................84
3.5 Usable volumes from Structural Fund resources ..................................87
3.5.1 NRW ERDF Operational Programme ..................................87
3.5.2... weaknesses and threats ...................124
4.3.2 Additional added value from the activity of the fund purely
stemming from the ERDF ..............................................126
4.4 Future
Fund (ERDF) and that all resources are therefore subject to the EU Structural Funds
Regulations; and,
the information contained in this EoI and accompanying Annex 2 is complete and correct in all its... (LUPS) European Regional Development Fund (ERDF)
Operational Programme 2007-20131 (the ‘LUPS OP’) provides a framework for the investment of
€376m of ERDF allocated to Scotland for the period... with the European Union (EU) Structural Funds allocated are:
Priority Axis Theme ERDF allocated
1. Research and
Innovation
To improve the competitiveness of the Lowlands and
Uplands Scotland enterprise base
, venture capital and microcredits to innovative start-ups, micro-enterprises and local SMEs. The European Regional Development Fund (ERDF) will supply the fund’s resources, which will be managed... States and Regions to re-invest part of their subsidies from Structural Funds (ERDF and ESF) to support innovative start-ups and micro-enterprises via various financial engineering instruments
.................................................................................................. 30
3.2 Availability of Funds ....................................................................... 30
3.3 JESSICA and its alignment with the ERDF OP... .......................................................................................................... 35
4.1 The experience of public‐private funding and initiatives in Galicia .. 35
4.2 JESSICA and ERDF fund managers... .................................................................................. 41
5.1 Eligibility criteria ............................................................................ 41
5.1.1 Eligibility alignment of ERDF OP projects
COMMISSION SERVICES REPLIES TO THE QUESTIONS
SUBMITTED BY THE JESSICA EXPERT WORKING GROUP
OF MEMBER STATES
Question 1: Combination of ERDF and ESF in the case of financial engineering -Article
34(2) Reg. (EC) 1083/2006
Integrated urban development actions are likely to need interventions which could be financed
under both ERDF and ESF, for example actions covering remediation of land; development of
business premises; training support for entrepreneurs etc. We presume therefore that both
ERDF and ESF can support JESSICA type financial instruments and the 10% modulation
............................................................................................. 22
3 ERDF 2007‐2013 OPERATIVE PROGRAMME FOR CASTILLA‐LA MANCHA... 24
3.1 Operative Programme Lines... ......................................................... 26
3.2 The JESSICA Initiative in the ERDF OP for Castilla‐La Mancha. ......... 27
3.3 New Financial Charge of the CLM ERDF OP..................................... 27... for implementing JESSICA finance lines, supported by funds
from the ERDF 2007‐2013 Operative Programme.
JESSICA CASTILLA LA MANCHA
FINAL REPORT.
6
In the case of Castilla la Mancha
the scope of the ERDF interventions in all EU Member States.
Within this context, the main scope of the study was to review prevailing
development actions in the respective area of energy efficiency... investment delivery structure
with the participation of ERDF funding, and possibly other contributions;
• Identified the administrative and legal framework and constraints and
proposed respective... and it was co-financed by
the Greek State and EU (ERDF) in the context of the operational program
“Competitiveness” (3rd CSF).
3 Main Finding of NSRF and National Programs
Mapping
The consultant
Urban Projects, via a UDF are part-funded by the
European Regional Development Fund (ERDF) and that all resources are therefore subject to
the EU Structural Funds Regulations; and,
2. the information... Regional Development Fund in London
The London European Regional Development Fund (ERDF) Operational Programme 2007-20131 (the
‘London OP’) provides a framework for the investment of €182m of ERDF... are:
Priority Axis Theme ERDF allocated
1. Business
innovation and
research and
promoting eco-
efficiency
1. Developing a culture of, and capacity for, creating and
using innovation throughout
, loans and/or guarantees, are delivered to projects via Urban Development Funds and, if required, Holding Funds. In Portugal the envisaged contribution out of the European Regional Development Fund (ERDF
Structural Funds Framework Programme. The JEREMIE agreement signed in Rome today provides for the creation of a EUR 60 million fund enabling the Sicily Region to use ERDF (European Regional Development
a mechanism in place that will ensure we can prolong the benefit of our ERDF Programme. JESSICA will allow us to invest in revolving funding, in addition to the normal single use grants. This might
with Turkey. It is therefore supported jointly by the Union structural funds (ERDF and the Cohesion Fund) and the EIB. EIB Vice-President P. Gennimatas said: "Efficient transport networks
. Venture Capital financed from ERDF – The
case of Northwest England: challenges,
achievements and perspectives
David Malpass Director of European
Programme, Northwest Regional
Development
to appropriate levels of financing
5
Key factors we should be able to rely on
• Since investments need to be made in line with ERDF OPs and
Integrated Plans for Sustainable Urban Development, they are
already
and the acceding
countries of Bulgaria and Romania in their identification and preparation of projects
potentially eligible for assistance through the European Regional Development Fund
(the “ERDF”) and the Cohesion Fund (hereinafter, together with the ERDF, referred to
as the “Funds”), has called on the EIB and the EBRD to contribute their specialist
expertise and experience to a joint effort to assist
and Interest
Rate Trends
29 May 2006, Brussels / g.cheshire@eib.org 15
EU AND EIB INSTRUMENTS
used in the Czech Republic and
Slovakia
EU instruments
< 2004 2007-20132004-2006
Phare / ISPA ERDF + ESF + CF ERDF + ESF + CF
EIB instruments
Direct loans
Global loans for SMEs, municipalities
5 Framework loans
for regions (in CZ)
Framework loan for several
regions in CZ and SK
Jaspers + Jeremie
......................... 22
2.5 ERDF housing eligibility rules................................................................................. 24
2.6 State aid and public procurement issues... English Cities Fund
EIB European Investment Bank
EIF European Investment Fund
ERDF European Regional Development Fund
ESF European Social Fund
FAS Fondo Aree Sottoutilizzate
HF Holding Fund
IUP... then draw down the investment from ERDF contributions, other national
contributions and possibly private capital investors (both equity and debt), to invest in
selected PPPs and other eligible urban
Regional Development Fund (ERDF)
and London Waste and Recycling Board (LWARB) monies under the Joint European Support for
Sustainable Investment in Inner City Areas (JESSICA) initiative... (ERDF) and that all resources are therefore subject to the EU Structural
Funds Regulations; and,
2. the information contained in this EoI and accompanying Annex 2 is complete and correct in all
its... )
I. GENERAL INFORMATION
a. European Regional Development Fund in London
The London European Regional Development Fund (ERDF) Operational Programme 2007-20132 (the
‘London OP’) provides
Region of the UDF and sign of the Operational Agreement.
Once the UDF is selected and OP resources are transferred to the UDF, ERDF OP resources
are reported (interim reporting);
6. after... :
square4 possibility of direct award of EIB as Holding Fund;
square4 obtaining interim reporting of ERDF resources with the establishment of the HF;
square4 use of skills, competences and expertise... administrative
procedures, the UDF will transfer its JESSICA resources into the SPV, thus obtaining the
final report of the JESSICA ERDF resources.
JESSICA Evaluation Study
Implementing a Pilot Fund
..........................................................................................................36
3. SUSTAINABLE URBAN DEVELOPMENT IN THE OP ERDF 2007-2013 FOR
THE REGIONE SICILIANA............................................................................ 37
3.1. STRUCTURE OF THE OP ERDF......................................................................... 37
3.2. URBAN DEVELOPMENT: MULTI-AXIS... OF JESSICA IN SICILY: LEGAL
PROFILES” (Studio Legale Associato NCTM)
ECOSFERA S.P.A. 5
EXECUTIVE SUMMARY
I. JESSICA INITIATIVE IN SICILY
The ERDF Operational Programme 2007-2013 of the Regione
JESSICA Holding Fund for Sicily: Call for Expressions of Interest
KB-929
Questions and Answers
1
KB – 929 EOI
UDF Selection for the Jessica HF for Sicily
QUESTION AND ANSWER DOCUMENT
Nr. QUESTION RECEIVED ANSWER EIB
1
What if ERDF resources are not used within
December 2015 as required by EU Regulations, in
particular: whether the UDF... shall foresee that the
ERDF resources not used for investment in Urban Projects by the final deadline (as
defined in the Operational Agreement) are to be repaid back to the JHFS. Also in this
case
the integration of the urban dimension in the ERDF Operational
Programmes, exchange of experiences through the URBACT programme, the Thematic
Strategy on the Urban Environment, capitalising... of the Operational Programmes is being
taken more into account, leading notably to a significant increase in the proportion of ERDF
funds over the 2007-2013 period ;
3.2 propose to promote integrated urban
to the JHFA an initial amount of EUR 85 714 286 from its Andalucía OP
allocation for 2007-2013. In this regard, 70% of this amount is cofinanced by the European Regional
Development Fund (ERDF).
The JHFA...
5.Expert for Structural Funds (ERDF) mechanics and eligibility criteria
Should any of the Key Experts not be at the direct disposal of the applicant, the applicant shall present
a declaration... authorisations
and licences relevant thereto, as well as the fulfilment of all obligations arising from the ERDF
cofinancing according to regional, national and European rules.
For that reason
Summary
In aiming to optimise the use of ERDF resources to support regional development objectives in line
with the urban agenda, both the European Commission and stakeholders seek to identify... REGIO European Commission’s Directorate General for Regional Policy
EC European Commission
EIB European Investment Bank
EoI Expression of Interest
ERDF European Regional Development Fund
ERR Economic... of ERDF contributions to JESSICA financial engineering instruments,
∙ contributing financial and managerial expertise from specialist institutions such as the EIB, the CEB
and other financial
Policy
EBRD European Bank for Reconstruction and Development
EIB European Investment Bank
EEREIF Eastern Europe Real Estate Investment Fund
ESF European Social Fund
ERDF European Regional... their Structural
Fund allocations - principally those supported by the European Regional Development Fund (ERDF)
but also, where appropriate, European Social Fund (ESF) - as investments rather than grants... as financial mechanism for the use of JESSICA for housing projects in Lithuania.
The legal analysis outlined the restrictions and limitations for ERDF resources available for housing
sector
constraints, we have not identified any regulations against prioritising ERDF
monies to one or more UDFs, in the absence of detailed business plans and cash flow
projections for the individual projects. Our assessment is, therefore, that the Structural Fund
Partnership should be able, given that agreements can be made amongst the relevant
stakeholders, to prioritise the allocation of ERDF capital... .
(f) Taking into consideration the timing requirements and regulations for the
allocation of ERDF funds from the Operational Programmes, we believe that
there are significant efficiency gains
and composting are less capital intensive than those downstream. They are in a number of cases financed by EU grants (e.g. ERDF, Cohesion Fund). Complemented by appropriate awareness campaigns these grant