Special support instruments
JESSICA Legislative provisions and guidance notes
JESSICA is designed to increase the use of financial engineering instruments within the framework of Cohesion Policy.
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.
Council Regulation (EC) No284/2009 of 7 April 2009 amending Regulation 1083/2006 (General Regulation) concerning certain provisions relating to financial management
Regulation (EC) No 397/2009 of the European Parliament and of the Council of 6 May 2009 amending Regulation 1080/2006 (ERDF Regulation) as regards the eligibility of energy efficiency and renewable energy investments in housing
- Commission Regulation (EC) No 846/2009 of of 1 September 2009 amending Regulation (EC) No 1828/2006 setting out rules for the implementation of Council Regulation (EC) No 1083/2006 laying down general provisions on the European Regional Development Fund, the European Social Fund and the Cohesion Fund and of Regulation (EC) No 1080/2006 of the European Parliament and of the Council on the European Regional Development Fund
- Guidance note n°4 on Financial Engineering (February 2012)