23/12/2008 (Agence Europe) - On Wednesday 17 December in Luxembourg the President of the European Investment Bank (EIB), Philippe Maystadt, and the President of the Government of Andalusia, Manuel Chaves, signed an agreement setting out the terms of cooperation between the two institutions for implementing the JESSICA programme in Andalusia to the tune of EUR 85 million. JESSICA is a joint initiative of the European Commission and the EIB set up in cooperation with the Council of Europe Development Bank to promote investment in urban areas. At the same time, Mr Maystadt and Mr Chaves signed the contract for a EUR 50 million loan granted by the EIB to the Andalusia Region for investment in social housing and urban regeneration in 30 Andalusian towns. (O.L./trans/rh)