Brussels, 15/12/2008 (Agence Europe) - In Athens on Friday 12 December, the European Investment Bank (EIB) and the Greek Ministry of Economy and Finance signed a Memorandum of Understanding to enhance cooperation in financing sustainable urban development. European Investment Bank (EIB) and the Greek Ministry of Economy and Finance signed a Memorandum of Understanding to enhance cooperation in financing sustainable urban development. JESSICA is an initiative of the European Commission and the EIB, with the contribution of the Council of Europe Development Bank, for sustainable urban investment and development supported by the Structural Funds of the EU. The JESSICA Memorandum with Greece comes two weeks after a similar agreement was signed with Portugal and follows agreements already signed by the EIB with the London Development Agency last week (see EUROPE 9803) and with the regions of Wielkopolska in Poland and Galicia in Spain in October. The Memorandum is expected to enhance cooperation between the parties with a view to identifying and prioritising potential demand, thereby improving the arrangements for promoting and implementing urban investment and development schemes. (O.L./transl.rt)