Location: One Central Park, Manchester
A new £100m fund has been set up to help support urban development projects in England's Northwest. This Joint European Support for Sustainable Investment in City Areas (JESSICA) initiative will be branded in the region as the Northwest Urban Investment Fund.
Set up by the Northwest Regional Development Agency (NWDA) with funding from the European Regional Development Fund (ERDF) Programme, the £100 million fund is made up of £50 million ERDF and the equivalent of £50 million from the NWDA, and will be managed by the European Investment Bank.
The fund will provide debt, equity and guarantee investment to support projects that will help unlock and regenerate sustainable development in the Northwest's urban areas. The initiative is also an opportunity for the region to put a mechanism in place that will ensure we can prolong the benefit of our ERDF Programme by reinvesting the returns from these investments in future projects, thereby creating a sustainable revolving investment fund.
A short briefing event will be held for partners to announce the Fund and provide further details about its delivery arrangements.
To register your attendance please visit www.nwda.co.uk/urbaninvestmentfund