JESSICA provides another PLN 68 million for urban projects

The Bank of Environmental Protection (BOŚ) will issue PLN 68 million in low interest loans to finance new revitalization of urban projects in West Pomerania through its JESSICA program, the Polish press reported on Thursday. The money will be issued gradually over several months, or even several years, as projects are completed. Investors can borrow and repay loans for a period of up to 15 years, at a 1 percent interest rate. JESSICA, developed by the European Commission and the European Investment Bank (EIB) and the Council of Europe Development Bank, supports sustainable urban development through returnable financial engineering and investment in urban projects. “Thanks to the EU, support has been revitalized among 19th-century buildings, modernized and rebuilt medical facilities and spas, created cultural centers, built new hotels and modernized urban markets. Investments have changed the image of degraded, unused urban areas, restored them to the local communities and created new jobs,” BOŚ said in a statement.The total value of investments co-financed by the BOŚ in the first views JESSICA in Western Pomerania exceeded PLN 380 million. BOŚ has been listed on the main market of the Warsaw Stock Exchange since 1997.