Green Regeneration

Meeting: 
MQT on 2009-11-18
Session date: 
November 18, 2009
Reference: 
2009/3588
Question By: 
Gareth Bacon
Organisation: 
GLA Conservatives
Asked Of: 
The Mayor

Question

Further to the Mayor's recent announcement of £100 million of green initiatives to help regenerate deprived areas of London, how will the projects to benefit from this scheme be identified, and what will be the criteria for these projects?

Answer

Answer for Green Regeneration

Answer for Green Regeneration

Answered By: 
The Mayor

The question refers to the Mayor's launch of the £100m Joint European Support for Sustainable Investment in City Areas ('JESSICA') fund; which will invest in decentralised energy and waste projects.

The 'JESSICA' holding fund is administered by the European Investment Bank (EIB). It comprises cash from the European Regional Development Fund (ERDF) and London Waste and Recycling Board (LWaRB) and sites contributed by the London Development Agency (LDA).

An Investment Board including LWaRB and LDA Board members and officers, chaired by the Greater London Authority; will take decisions on investment of the JESSICA fund. Decisions will be based on EIB's recommendations arising from the set-up of decentralised energy and waste 'urban development funds' (UDFs) in 2010.

The Board will agree how projects will be identified and the investment criteria to be used by the UDFs. Projects supported will also need to achieve outputs set out in London's 2007-13 ERDF Operational Programme.