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Urban development aims to promote sustainable investment, growth and jobs in Europe's urban areas. During 2007-13 the former URBAN programme will no longer exist as a separate initiative and will be integrated into the regional programmes. The new Cohesion Policy regulations provide instruments for strengthening the urban dimension within the new generation of programmes. These instruments highlight the need to involve local and regional authorities in their planning and implementation. The Community Strategic Guidelines on Cohesion outline major types of action specific to urban areas which can benefit from EU regional funds.
The Commission has also introduced a new instrument to increase the availability of risk capital for urban areas through its JESSICA initiative (Joint European Support for Sustainable Investment in City Areas).