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'Jessica' Combats Recession

"We are facing recession through the utiliztion of programs, like 'Jessica', which exhibit tangible and quantifiable result for resurgence and development," said development minister Kostid Hatzidakis, from Iraklion, Crete, where he attended the signings of the first projects uder the 'Jessica' program.
These deal with funding of urban development programs on Crete through the Pancretan Cooperative Bank. The minister also announced funding, worth 3 million euros, from his ministry for the finalization of the Iraklion Cultural Center.

The Pancretan Cooperative Bank is the first to sign 4.5 million euros worth of funding, through 'Jessica' for four projects worth in total 1 million euros. As the minister mentioned, more such projects are in the pipeline.

Mr Hatzidakis mentioned that through 'Jessica', 258 million euros will be used to fund projects throughout Greece, while through banks, private funds can be mobilized to carry out urban development projects.As he mentioned proposals have been received for about 65 projects worth half a billion euros. So far 35 have received the OK or have been slated for acceptance.

The four projects signed today include:
- Restitution of the Vikelaia Library in Iraklion, Crete (2.4 million euros)
- A building complex to be built in Chanioporta, Iraklion, Crete (6.4 million euros)
- Roadworks for the facilitation of the Iraklion University Hospital (670,000 euros)
- A five storey parking for the municipal enterprise of Kydon, at Chania, Crete (2.7 million euros).