JESSICA Legislative provisions and guidance notes

JESSICA is designed to increase the use of financial engineering instruments within the framework of Cohesion Policy.

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It permits that Managing Authorities use some of their Structural Funds allocations to invest in revolving funds - rather than once-off grant financing - and so recycle financial resources in order to enhance and accelerate investment in urban areas.

In response to the financial and economic crisis, the Regulatory Framework has been revised in order to increase the eficiency of European resources.