1. JESSICA and EIB financing of Cities
Working with the EIB
Katowice, January 11 and 12, 2007
THINK REGIONALLY AND ACT LOCALLY
Towards More Resilient Cities
Brian Field
Urban Planning and Development Adviser
European Investment Bank
JESSICA and EIB financing of Cities
Frank Lee
January 2007
The Urban Dimension of Cohesion Policy
European Week of Cities and Regions Open Days
Brussels, 11th October 2011

2. PLANNING, SUSTAINABILITY & THE URBAN AGENDA
Sustainable development has finally moved from the periphery to the mainstream of the urban agenda.

3. THE LEIPZIG CHARTER SUSTAINABLE COMMUNITIES
Innovation and education policies
Improve physical environment
High quality public spaces
SUSTAINABLE
COMMUNITIES
Local economy and labour market policies
Efficient affordable transport
Regenerate deprived neighbourhoods
Infrastructure networks and energy efficiency
Training for children and the young

4. INVESTMENT IN SUSTAINABLE COMMUNITIES
KNOWLEDGE
INFRASTRUCTURE
SUSTAINABLE
COMMUNITIES
ENVIRONMENT
SOCIAL
SKILLS
REAL ESTATE
DEMOGRAPHIC
LOGISTICS
INTANGIBLE
TANGIBLE
CITY ASSETS

5. OVERCOMING FRAGMENTATION INTEGRATED PLANNING
An integrated approach to urban development for the effective improvement in the socio-economic conditions of regions requires the identification of cooperating elements of infrastructure investments with the evolution of social capital that should be developed simultaneously in the areas where applied.

6. THE BANK RESPONSE Traditional Lending Structured Finance
An Implicit Action Plan for Cities
Traditional Lending
Structured Finance
Financial Engineering
Technical Assistance
Networking/Partnering
Targeted investment
in more sustainable
urban regeneration
and renewal

7. THE FOUR KEY ELEMENTS Technical Assistance.
Provide technical support to prepare bankable projects, e.g. JASPERS, ELENA etc.
Traditional Lending.
Increase lending by encouraging greater use of framework and global loans, as well as project-specific investment loans.
Financial Engineering.
Support the use of new financial instruments such as JESSICA and JEREMIE.
Structured Finance.
Taking more risk by extending the scope of the Bank’s Structured Finance Facility (SFF) to include urban investments.

8. SUSTAINABLE PROJECTS The EIB’s « three pillars »
Eligibility = consistency with EU priorities
Technical quality and economic soundness
Financial viability and adequate security
Complies with EU procurement and environmental and social protocols
A project assessment with many facets 8

9. FLEXIBILITY & RESILIENCE
The sustainable cities paradigm increasingly includes much stronger emphasis on the concept of resilience, i.e. the ability of cities and city systems to respond and/or rebound quickly from global shock and other unforeseen eventualities.

10. PRINCIPLES FOR RESILIENT CITIES
Resilient cities are prepared, i.e. they are able to attract long-term investors who can continue to build value over the long-term as they adjust and succeed in changing environments.
The debate has focussed on the twin track of “continuity” and “adaptability”, where continuity relates to a city’s ability to avoid and manage major shocks while adaptability constitutes a city’s ability to respond to major trends while spreading and managing their risks.

11. COMMUNITIES, GOVERNANCE & LEADERSHIP
Truly sustainable and resilient cities and communities will be those where informed political leadership and municipal governance are accompanied by a balanced approach to environmental, economic and social well-being.

12. THE COMPETITIVE CITY CIRCUS
Two themes appear to permeate the resilience debate and have obviously informed policy-makers, i.e. an economic imperative for cities to compete in what is fast becoming something of a circus, and the perceived importance of big/mega projects often designed by signature architects (so-called global destination projects).
City leaders need to avoid an ill-considered rush to compete and, when eventually doing so, should focus on their comparative advantage and give priority to investment in projects that differentiate their offer from that of their competitors.

13. COMMUNITIES MATTER
The sustainability and resilience debate is not just about economic advantage, even when tempered with a slick gloss of eco-branding, it’s about communities. It’s about changing the way people and societies behave. The sustainability debate ignores the societal content at its peril.
Sustainable cities need sustainable communities, and to engage communities in the sustainability agenda, people need to feel involved and have a genuine say in decision-making. Astute leaders will ensure that they do so.

14. THINK REGIONALLY AND ACT LOCALLY
Resilience will be founded, as it always has been in the past, upon strength and quality of political leadership, and the collective, mutually supportive response of urban communities and neighbourhoods, and this will flow directly from new and emerging governance structures which genuinely involve everybody in setting the agenda…(after Charlie Hughes of Smart Futures, The Future Cities Forum, December 2010).

15. EIB CONTACT INFORMATION Brian G. Field Urban Planning and Development Adviser European Investment Bank 100 boulevard Konrad Adenauer L-2950 Luxembourg Tel: Fax: