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TMCNet:  Manchester celebrates EU funding to promote sustainable development

[February 25, 2013]

Manchester celebrates EU funding to promote sustainable development

Feb 25, 2013 (M2 PRESSWIRE via COMTEX) -- Manchester has been chosen to benefit from a EUR700k funding pot that will link a network of European cities looking at new ways of financing future regeneration projects.

Manchester City Council, along with nine other prominent European cities, has secured the funding for the City Sustainable Investment in Europe (CSI Europe) network from the European Union's URBACT initiative -- which is financed by the European Regional Development Fund (ERDF).
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Manchester will receive almost EUR300k to lead the exchange programme that will link the network of partner cities in working together to develop and share best practice solutions in financing urban development -- particularly in the context of the current economic climate.

Essentially, the CSI Europe network will pool the experience and expertise of each of the partner cities to help guide future regeneration projects and advise on innovative, sustainable financing -- such as using loans rather than traditional grant funding.

Over the last six months, the city council has worked to build the network up from 5 to 10 partner cities who have already visited Greater Manchester to see how urban development is managed here-- particularly the successful investment model in the Evergreen programme which is currently supporting the development of the Citylabs and Soapworks sites.

The project will run until April 2015, and this new funding will now support each of the partner cities in hosting talks and conferences with relevant experts, benefitting not only each city in their shared learning but cities and towns across Europe through the creation of a financial model that can be used by all.

The partner cities involved in the project are: Ancona (Italy), Leipzig (Germany), Lille Metropole (France), Malmo (Sweden), Porto (Portugal), Poznan (Poland), Riga (Latvia), Seville (Spain) & The Hague (the Netherlands).

Sir Richard Leese, Leader of Manchester City Council, said: "This network of prominent European cities has the opportunity to learn and share innovation that will help inform their own management and financing of future regeneration projects -- which is vital in these turbulent economic times to ensure development can continue unhindered.

"Manchester has a worthy reputation in large regeneration projects and is therefore well placed to lead this network -- especially in view of our investment model and leading role in the Evergreen fund in the North West." More information can be found at http://www.urbact.eu/en/projects/metropolitan-governance/csi-europe/homepage/ ((M2 Communications disclaims all liability for information provided within M2 PressWIRE. Data supplied by named party/parties. Further information on M2 PressWIRE can be obtained at http://www.presswire.net on the world wide web. Inquiries to info@m2.com.

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