Background and Regulations

 Background

To achieve a coordinated approach of the financing of Urban Renewal and Development for the Programming Period 2007-2013 of the Community Structural Funds a memorandum of Understanding was signed between EC, EIB and CEB (May 2006).

Regulations

The enabling framework for JESSICA is provided by general and specific regulations, which allow Member States to use some of their Structural Fund allocations to take advantage of financial engineering mechanisms to support investment in integrated urban renewal and regeneration schemes.