Effective grant financing
In 2005, the European Commission began to outline the Joint European Support for Sustainable Investment in City Areas (JESSICA) to improve the effectiveness of grant financing. Deloitte member firm teams from across Europe developed plans for implementation in key jurisdictions and helped design specific processes for harnessing its potential.
Grants are an essential element of public/private investments the world over. But, traditional grants are often ineffective for many projects due to spending limits and the need for financing versus gap funding. To address these issues, in 2005, the European Commission (EC) began to outline the Joint European Support for Sustainable Investment in City Areas (JESSICA), which would be deployed under the auspices of the European Investment Bank (EIB). Learn how Deloitte helped transform JESSICA from theory into practice and enabled local authorities to progress economic development goals that would have otherwise stalled during the economic downturn.