Brussels, 26/04/2012 (Agence Europe) - The European Investment Bank (EIB), in its capacity as the manager of the JESSICA (Joint European Support for Sustainable Investment in City Areas) Holding Fund Moravia-Silesia, signed two contracts on Tuesday 24 April 2012 with Contera UDF MS s.r.o in cooperation with Volksbank CZ a.s. (“CONTERA”) and Ceskomoravska zarucni a rozvojova banka, a.s. (“CMZRB”), establishing two Urban Development Funds (UDFs) to operate in the Moravia-Silesia Region of the Czech Republic.
The two UDFs set up with the support of the EIB will initially invest approximately CZK 341 million (€13.7 million) through loans for projects aimed at brownfield revitalisation, development of tourism and improvement of public service infrastructure. The remaining funds will be allocated to one or both UDFs at a later stage. The two UDFs are expected to focus their investments in a wide range of projects including: regeneration of brownfields through site preparation and construction of technical, transport and entrepreneurial infrastructure, revitalisation of historical monuments, development of sports and recreational facilities and investments in healthcare, education and social service infrastructure. (OL/transl.fl)