Regional Council of Moravia-Silesia and the European Investment Bank signed the so-called Memorandum of Understanding that serves to confirm mutual interest in further co-operation in preparation of JESSICA tool in Moravia-Silesia region. Memorandum was signed for the Regional Council of Moravia-Silesia by its chairman Jaroslav Palas, while the European Investment Bank was represented by head of JESSICA department Eugenio Leanza.
JESSICA is a new and innovative tool helping to use European finances and it represents more efficient alternative to the current model used for subsidies. It is based on the principle of investments into financially returnable projects in urban areas using various forms of loans, bank credits, own shares or guarantees to not only public, but also private subjects. Moravia-Silesia is the first region in the Czech Republic that gets prepared for implementation of Jessica.