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Funding contracts signed for the JESSICA program in the Region of Crete

13.09.2013 - 00:00

The first funding contracts for the JESSICA program were signed today in Heraklion Crete, for the financing of urban development projects in the Region of Crete.

The Pancretan Cooperative Bank is the first bank to sign funding of 4.5 million Euros through JESSICA for four projects with a total budget of 12 million Euros. At the same time, more projects have already been approved and are being considered, while new investments are expected to be promoted soon.

Specifically, the projects funded are:

  • Restoration of Vikelaia Library in Heraklion with a budget of 2.4 million Euros. The Vikelaia Library is housed in a beautiful building and provides modern infrastructure and high quality services to citizens, highlighting the historic city centre of Heraklion.
  • Construction of a building complex of shops, offices and underground parking in Chanioporta Heraklion with a budget of 6.4 million Euros. This project will contribute to the traffic decongestion, while upgrading the area, creating parks and recreation areas.
  • Improvement of the road section at the Heraklion University General Hospital with a budget of 670,000 Euros. This project will contribute to traffic decongestion and improve travel conditions to and from Heraklion, while providing additional parking spaces for the Heraklion University Hospital.
  • Development of a 5-floor parking facility for the KYDON Municipal Corporation in Chania with a budget of 2.7 million. The project is expected to service the increased parking needs and help decongest traffic in the city centre of Chania.

The JESSICA Fund in the Region of Crete provides 15 million Euros from EU funds, while a total of at least 35 million Euros will be invested by bank and private resources.

In all Regions of Greece a total of 258 million Euros are available by the regional funds which are managed by banks. A total of 38 projects have been approved or pre-approved and more than 65 projects have been submitted with a budget of over 500 million Euros in:

  • Urban Infrastructure (interventions for the revitalization of historic city centres).
  • Renovation of abandoned industrial buildings within cities.
  • Industrial commercial facilities (industrial parks, relocation of disturbing activities, shopping centres)
  • Tourist / cultural infrastructure (construction of sports facilities, cultural venues and hotels)
  • Energy (urban street lighting, utilization of renewable energy sources)
  • PPP projects (viable transport, education, waste management)
  • Health (establishment of rehabilitation centres)