Energy Efficiency in Buildings: Combining New Financial Instruments with the MFF

Energy Efficiency in Buildings: Combining New Financial Instruments with the MFF The example of JESSICA Frank Lee Head of Holding Funds and Advisory, Northern Europe JESSICA and Investment Funds European Investment Bank March 2012 European Investment Bank – JESSICA and Investment Funds Overview of JESSICA Joint European Support for Sustainable Investment in City Areas  A management and advisory programme, launched by the EU Commission in collaboration with EIB, to assist Member States and regions to invest Structural Funds in urban projects (including energy efficiency)  Overall JESSICA objectives: Higher productivity of Structural Funds / public funds Increase efficiency and productivity of Structural Funds by making use of innovative and revolving financing instruments in the urban sector (complementary to grant financing) Leverage effect Mobilise additional public and private sector resources for the benefit of sustainable and integrated urban development (schemes) Expertise - new partnerships and synergies Utilise financial, managerial and project implementation expertise from private sector or international financial institutions such as EIB European Investment Bank – JESSICA and Investment Funds 2 General JESSICA implementation model EUROPEAN COMMISSION Structural Funds Grant (not repayable as long as EC Regulations adhered to) OTHER INVESTORS (Public & Private) MEMBER STATE Via a designatedManaging Authority CITIES HoldingFund (HF) optional Contribution (repayable or non-repayable) URBAN DEVELOPMENT FUND (UDF) IFIs/Public Investment (equity, loan orguarantee) Agencies/ Banks Projects forming partof anIntegratedPlanfor Sustainable UrbanDevelopment European Investment Bank – JESSICA and Investment Funds 3 JESSICA in practice Lithuania European Investment Bank – JESSICA and Investment Funds LithuanianMinistries of Finance and Environment commitment of EUR 227m from Operational Programme: « Promotion of Cohesion 2007-2013 » Heat subsidies for low income persons 15% grant from Climate Change Programme JESSICA Holding Fund managed by EIB Contingent loans Urban Development Funds Project preparation and technical assistance Renovation Loans (l/term & preferential rates) – minimum level of energy savings of 20% and energy class D to be achieved PROJECTS: Eligible energy efficiency projects in multi-apartment buildings BORROWERS: Individual owners of apartments in multi-apartment buildings / administrators of commonly used premises of multi-apartment buildings Housing and Urban Development Agency European Investment Bank – JESSICA and Investment Funds 5 ... - tailieumienphi.vn