Manchester is one of ten European cities chosen to benefit from funding to devise new ways of financing regeneration projects in the future.
Manchester City Council has secured the funding as part of the City Sustainable Investment in Europe network from the European Union's URBACT initiative, which is financed by the European Regional Development Fund.
Manchester will receive almost €300,000 to lead the exchange programme that will link the network of partner cities in working together to develop and share best practice solutions in financing urban development – particularly in the context of the current economic climate.
The CSI Europe network will pool the experience and expertise of each of the partner cities to help guide future regeneration projects and advise on innovative, sustainable financing – such as using loans rather than traditional grant funding.
Representatives from the partner cities have visited Greater Manchester to see how urban development is managed here – particularly the investment model in the Evergreen programme which is currently supporting the development of the Citylabs and Soapworks sites.
The project will run until April 2015.
The partner cities involved in the project are Ancona in Italy, Leipzig in Germany, Lille Métropole in France, Malmö, Sweden, Porto, Portugal, Poland's Poznañ, Riga in Latvia, Seville in Spain and The Hague in the Netherlands.
Sir Richard Leese, leader of Manchester City Council, said: "This network of prominent European cities has the opportunity to learn and share innovation that will help inform their own management and financing of future regeneration projects – which is vital in these turbulent economic times to ensure development can continue unhindered.
"Manchester has a worthy reputation in large regeneration projects and is therefore well placed to lead this network – especially in view of our investment model and leading role in the Evergreen fund in the North West."
- More information can be found at http://www.urbact.eu/en/projects/metropolitan-governance/csi-europe/homepage/