Jessica Sardegna – Joint European Support for Sustainable Investment in City Areas

JESSICA (Joint European Support for Sustainable Investment in City Areas) is a European Commission initiative implemented in cooperation with the EIB and the Council of Europe Development Bank. JESSICA is a revolving fund aimed at making better use of structural funds and attracting additional resources from private and/or public investors in the investment process. In Sardinia, the endowment amounted to approximately EUR 40m to be allocated to investments in urban regeneration projects.

Scouting and structuring of initiatives activities of economic financial analysis, procedural verification and program management. focus has been given to identifying the risks present on the project and allocating them to the counterparty that best manages them. Among the needs of the project we highlight the structuring of liabilities that also saw the involvement of primary banking partners different from the Banco di Sardegna.

In five years, EUR 38 million of resources have been disbursed, activating EUR 110 million of investments in the area. A cruise terminal, three gas networks, the redevelopment of a small commercial space, the construction of a social-health facility for people with disabilities, the redevelopment of a sports hall, the construction of some multi-purpose sports areas in some city districts, the redevelopment of a civic market, the redevelopment of a swimming pool, the redevelopment of a civic building, and the purchase of some state-of-the-art trolleybuses were financed.