Press Release: JESSICA fund agreements pave way for urban renewal in Poland’s Silesia and Pomerania regions

Urban renewal and infrastructure development are the focus of two JESSICA holding funds being established in Poland’s Silesia and Pomerania regions. The funds will make use of European regional and development funds.

An agreement signed on 9 July 2010 with the Silesia region establishes a JESSICA holding fund for investment in economically deprived urban areas across the region. The fund, managed by the European Investment Bank (EIB), will redevelop disused military bases and industrial areas, as well as regenerating town centres and residential districts. €60m will initially be invested by the Silesia region, of which €51m is from European regional and development funds (ERDF) and €9m from national matching funds.

Under an agreement signed on 12 July, the Pomerania region will also establish an EIB-managed JESSICA holding fund. The fund will finance urban development in Gdansk, Sopot and Gdynia and other towns. The fund will benefit public transport, energy efficiency, renewable energy and other projects. The initial amount invested is €56.8m, including €49.2m from European regional and development funds and €7.6m from Poland.