Parallel sessions on case studies Urban Development

Transcription

1 Parallel sessins n case studies Urban Develpment #ficmpass

2 Financial instruments fr urban develpment in Pland EIB Fund f Funds, Silesia Pitr Skiba, #ficmpass

3 Financial Instruments fr Urban Develpment in Pland EIB Fund f Funds Silesia FI Campus Case Study Sessin Brussels, 29 Nvember 2017

4 Why Silesia Regin? Silesia is the secnd regin in Pland in terms f ppulatin (4.63 millin) with the highest ppulatin density (375 persns / km 2 ) Regin with the highest urban ppulatin (77.7% f ttal ppulatin in 71 cities) The Upper Silesia Urban Area is the largest urban area in Pland and ne f the largest in the EU (up t 3.5 millin inhabitants) High intensity f degraded and pst-industrial urban areas with negative ecnmic, envirnmental and scial impacts Significant challenges related t negative demgraphic prcesses Urban regeneratin is ne f the strategic gals in the Silesia Regin 4

5 EIB as JESSICA Hlding Fund Manager Mre than EUR 260m under EIB s management 5 EIB Hlding Funds implemented in 5 regins 7 Urban Develpment Funds Full disbursement f funds int Urban Prjects by 30 April Investment Agreements amunting t EUR 274.8m + 4 Revlving IAs amunting t EUR 4 m 5

6 JESSICA Hlding Fund Silesia milestnes 1. In Octber 2009 EIB submitted t the Managing Authrity the JESSICA Evaluatin Study demnstrating the ptential fr the use f financial instruments in urban sectr 2. In January 2010 the MA and EIB signed the Memrandum f Understanding laying dwn the general terms f future cperatin (start f negtiatins f the Funding Agreement) 3. Funding Agreement was signed by bth parties n 9 July In April 2011 the EIB launched in OJEU the Call fr Expressin f Interest t select UDFs: 1 st stage - evaluatin based n exclusin and selectin criteria: 6 ffers received, all applicants invited t the 2 nd stage 2 nd stage - evaluatin based n award criteria: selectin f Bank Ochrny Śrdwiska S.A. 5. Apprval f the selectin f the UDF by the JESSICA HF Silesia Investment Bard in August Signature f the Operatinal Agreement with the UDF n 24 Octber 2011 in Katwice 7. First Investment Agreement signed in April 2012 (revitalisatin f a frmer cinema lcated in the city centre f Tychy and its adaptatin fr cultural and entertainment purpses) 8. Last Investment Agreement signed in 25 May 2015 (Mediateque in the city f Tychy) design phase (pints 1 3): 10 mnths set-up phase (pints 3 6): 15 mnths implementatin phase (pints 6 8): 44 mnths 6

7 JESSICA Hlding Fund Silesia highlights JESSICA in Silesia was aimed t supprt the fllwing urban prjects: revitalizatin f urban areas, revitalizatin f pst-military and pst-industrial areas and multifunctinal apprach t degraded areas (ecnmic, educatinal, turistic, scial and cultural functins) Each urban prject must have been part f an integrated plan fr sustainable urban develpment! The Silesia MA cntributed PLN 249.6m equivalent f EUR 60m (85% - ERDF, 15% natinal matchfunding) In additin, the UDF cntributed wn funds amunting t PLN 225.5m (leverage: 2.2) By end-2015 all JESSICA funds were disbursed t 27 urban prjects ttaling PLN 263.8m (104% f the OP cntributin t the UDF) Final Recipients: SMEs, large enterprise, self-gvernment units and cmpanies, NGOs Results: number f users f revitalised urban infrastructure: 693 thusand surface f revitalised area: 38 ha (impact n 108 ha) Number f newly created jbs : 219 number f newly created enterprises: 21 7

8 Example f JESSICA Prject Mediateque f XXI Century (1) Scpe f the prject: Design and executin f wrks aimed t give new functinalities t the building thrugh the cnstructin f: the City Public Library in Tychy; the Cncert Hall with scial and technical facilities; and business premises fr cmmercial purpse Surces f financing: JESSICA lan: PLN 22,253, (66,12% f ttal investment csts) Cuncil f Eurpe Develpment Bank (CEB) lan: PLN 9,426, City f Tychy s wn financing: PLN 1,970, Ttal investment cst: PLN 33,651, (net f VAT) VAT recverable: PLN 7,630, Prject s milestnes: 27 September 2012 submissin f lan applicatins fr financing under JESSICA and CEB lan 10 July 2013 signature f the JESSICA Investment Agreement with Bank Ochrny Śrdwiska S.A. (Urban Develpment Fund) and f the lan agreement with CEB 19 July 2013 signature f cntract fr cnstructin wrks 31 December 2015 cmpletin f cnstructin wrks and receipt f certificate f ccupancy 15 March 2016 financial clearance f the prject under the JESSICA lan 31 March 2016r. - financial clearance f the prject under the CEB lan 8

9 Example f JESSICA Prject Mediateque f XXI Century (2) Achieved results: a public utility building with surface f 5 834,80 m 2, including: the City Public Library: 2 744,13 m 2 the Chamber Orchestra AUKSO: 782,60 m 2 3 business premises: 369,27 m 2 cmmn parts and technical premises: 1 938,90 m 2 BEFORE AFTER 9

10 EIB Grup Financial Instruments Kujawsk-Pmrskie EUR 60m Pmerania 57m EUR Renewable energy surces Energy efficiency in husing Energy efficiency in SMEs Urban regeneratin Renewable energy surces Energy efficiency in husing Silesia EUR 178m * Mazvia 52m EUR Urban regeneratin Energy efficiency in SMEs Scial ecnmy Supprt fr SMEs * Jintly with EIF as EIB Grup Urban regeneratin Renewable energy surces Energy efficiency in husing 10

11 Fund f Funds Silesia highlights and milestnes Successful implementatin f the JESSICA Initiative in Silesia cntributed t the cntinuatin f cperatin als fr the prgramming perid EIB and EIF (as EIB Grup) acting as FF Managers implement all ESIF financial instruments in Silesia Ex-ante Assessment finalised by the Managing Authrity in December 2014 cnfirmed market gaps in the urban sectr Based n the cnclusins f the Ex-ante Assessment EIB and the MA signed the Memrandum f Understanding in Nvember 2015 Trilateral Funding Agreement (EIB, EIF and MA) was signed n 30 Nvember 2016 Silesia MA cntributed fr urban regeneratin PLN 207.8m equivalent f EUR 48m (85% - ERDF, minimum 15% t be prvided by the financial instrument) which is the highest such allcatin in Pland FIs fr urban regeneratin are expected t supprt: cnversin f degraded and unused industrial facilities int cultural and ther facilities regeneratin f pst-military and pst-industrial areas t create new functins (educatin, entertainment, sprts, culture r ecnmic activities) regeneratin f ld and degraded urban areas, including investments t imprve public safety and investments in basic technical and scial infrastructure Financial prduct: investment lans with preferential interest rates (based n scial effects) and lng tenrs (up t 20 years) 11

12 Fund f Funds Silesia experience s far Based n the Investment Strategy and Business Plan EIB develped the Call fr Expressin f Interest t select financial intermediaries ( CEI ) CEI was apprved by the Investment Bard In line with EIB s prcurement prcedures CEI was published in OJEU 2 ffers were received fr urban FIs Based n the evaluatin f ffers, EIB recmmended t the Investment Bard t apprve the selectin f Bank Gspdarstwa Krajweg as the Financial Intermediary Investment Bard apprved the selectin f BGK After frmal ntificatin f the results t bth applicants, EIB and BGK started negtiatins f the Operatinal Agreement 12

13 Thank yu! Questins? Pitr Skiba Lcal Fund and Structuring Officer EIB Office in Warsaw tel. (+48) , (+48)

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