Exclusive - Further nine bids get funding

A further nine bids from the first round of the £1.4 billion fund that aims to boost growth in England's regions will receive their promised allocations, Planning has learned.

The 45 provisionally successful first round bids to the Regional Growth Fund (RGF) have been undergoing a process of due diligence since April to assess their legal and financial compliance before they can receive the money.

The government has already announced that due diligence has been completed on - and cash awarded to - seven bids. But a freedom of information (FOI) request by Planning has revealed that officials have approved a further nine bids in the past fortnight, bringing the total to 16.

A spokeswoman for the Department for Business, Innovation and Skills (BIS) said that these applications include a package of seven bids submitted by engineering firm Chirton Engineering and a further package of bids from green business body the Carbon Trust.

However, she said she was unable to disclose further details of the bids until after contracts were signed and BIS has formally announced the news - which had yet to take place as Planning went to press.

The FOI request also revealed that none of the bids assessed to date have been rejected at the due diligence stage.

See News Analysis, p12.


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