The cooperating institutions have formally agreed the first series of new initiatives aimed at improving the quality of projects and accelerating the absorption of financial resources for investment conducive to regional development.
The European Commission, the European Investment Bank and the European Bank for Reconstruction and Development signed the Memorandum of Understanding on JASPERS (Joint Assistance to Support Projects in European RegionS), the technical assistance vehicle that will help national and regional authorities to prepare projects for funding by the EU budget. JASPERS will provide assistance at any stage of the project cycle from initial conception through to the final application for EU funding or the decision to provide EU funding by national authorities. The assistance may cover technical, economic and financial aspects and any other preparatory work needed to deliver a fully developed project.
The European Commission and the European Investment Fund concluded the Memorandum of Understanding on JEREMIE. This will enable Member States and Regions to leverage on their structural funds allocations in a more efficient, flexible and revolving manner to support, mainly innovative micro, small and medium scale enterprises through new financial instruments.
The European Commission, the European Investment Bank and the Development Bank of the Council of Europe approved a Memorandum of Understanding on Urban Development to open a common and innovative approach. Under this initiative solutions to stimulate urban development will be sought jointly. In particular, the three institutions will follow a coordinated approach to the financing of urban renewal and development, for the programming period 2007-2013 of the Community Structural Funds.
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