§ Mr. FatchettTo ask the President of the Board of Trade what plans he has to use private funding as a means of matching European moneys allocated to the European regional development fund.
§ Mr. Sainsbury[holding answer 8 December 1993]: United Kingdom Community support frameworks, which govern the use of grants from the ERDF and other European structural funds, already refer to contributions from private sources as well as from the public sector. Projects are being approved for ERDF grant which will be part funded from the private sector.
It is the Government's policy to encourage partnerships with the private sector for funding infrastructure investments. Government Departments will therefore give every consideration to eligible applications for ERDF grant for infrastructure projects co-financed by the private sector. ERDF grant will, however, be paid only when the economic benefit of the project in question accrues to the area concerned.