Conditions and context of the JESSICA Initiative implementation in the regional development of the Czech Republic during the period 2007 - 2013

Programming period 2007 - 2013 brings a new perspective on the funding policy of the European Union. Particularly in the fi eld of regional policy is a sub-tools, which indicate the transition from a "grant" to "repayable" funding. This particular form of fi nancing is conducted through fi nancial engineering instruments JESSICA and JEREMIE in the EU Structural Funds. Specifi cally, JESSICA instrument brings a new perspective on the possibility of fi nancing urban development. Individual states of the European Union are in various stages of implementation of this instrument. The paper seeks to analyze conditions of JESSICA initiative establishing and implementation in the Czech Republic in the light of experience gained in the UK and Poland. It also seeks to outline the main essence of this instrument, the reason for its formation, its focus and defi nition of the authorities responsible for its implementation and administration in the Czech Republic.