The Government has issued guidance to Local Enterprise Partnerships on how to deliver projects using the new round of European Structural and Investment Funds for 2014-20.
Final decisions are still to be made on the fields on which the funds may be spent but these are expected to include: innovation, research and technological development; support for small businesses; the low carbon economy; skills; employment; and social inclusion.
During the coming six years the European Regional Development Fund, the European Social Fund and part of the European Agricultural Fund for Rural Development will be brought together into an ‘EU Structural and Investment (SI) Funds Growth Programme’.
This guidance asks LEPs to indicate their priorities for spend in their areas, and describes the delivery systems the government will use.
It said the old funds had been brought together to allow “much greater flexibility in the way money is spent.
“Money will no longer be constrained by artificial regional boundaries: it can be used to deliver local smart, sustainable and inclusive growth in the most effective way.”
A copy of the guidance can be viewed here.