Financial Instruments and Territorial Cohesion. Wielkopolskie region, Poland: Case Study Report

    Research output: Book/ReportReportScientific

    Abstract

    The main use of Cohesion Policy's Financial Instruments (FI) implementation in Wielkopolskie was through the ROP 2007-2013, which specified two instruments for which regional management systems were set up: JESSICA and JEREMIE. The overall sum of loans and credits acquired with the support of FI in the ROP 2007-2013 was PLN 1.8 billion (€422 million). The amounts of funding invested in JESSICA and JEREMIE projects and the additional capital mobilised to fund the investment generated a substantial leverage effect, making Wielkopolskie a FI leader in Poland.
    In terms of the JESSICA instrument, 37 loans were allocated with an overall value of PLN 321 million (€75.29 million). This meant that contracts were signed for investments for an overall value of PLN 622 million (€145.8 million). As for JEREMIE, revolving support for SMEs as part of Wielkopolskie’s ROP 2007-2013 showed that the 8,406 projects supported generated 65 percent of the programme’s overall job creation (14.6 thousand jobs or 13.5 percent of all jobs created in the region between 2007 and 2015).
    As for their territorial dimension, there was a lack of spatial focus of interventions for both in JESSICA and JEREMIE. While there may have been an initial intention to target specific territories most in need of assistance, for both instruments these criteria were abandoned in favour of an approach that maximised the territorial coverage of the instruments and the potential number of beneficiaries. Nevertheless, both instruments produced significant impacts such as their contribution to bridging the finance gap, the ‘cultural shift’ they induced by growing awareness of repayable forms of public assistance and a lesser dependence on EU grants. Importantly, the JEREMIE funding repaid allowed for the establishment of a financial and institutional basis for Wielkopolskie’s own regional policy, independent from the Cohesion Policy and policy priorities agreed upon with the central government.
    Original languageEnglish
    PublisherESPON
    Commissioning bodyESPON EGTC
    ISBN (Electronic)978-99959-55-97-7
    Publication statusPublished - 2019

    Bibliographical note

    Case study report as part of the ESPON Financial Instruments and
    Territorial Cohesion project.

    Funding

    ESPON

    Keywords

    • Financial Instruments
    • Cohesion Policy
    • JESSICA
    • Wielkopolskie
    • Poland
    • Territorial Cohesion
    • Sustainable Urban Development
    • Poznań
    • JEREMIE
    • Urban regeneration

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