HC Deb 17 June 1999 vol 333 c210W
Mr. Andrew George

To ask the Secretary of State for Trade and Industry what plans he has to ensure that adequate match funding arrangements are in place in Objective 1 areas. [86508]

Mr. Wills

Match funding will continue to be the responsibility of the grant applicant. This ensures local ownership and commitment to the projects. There are numerous possible sources for match funding including local authorities, TECs, government schemes, the voluntary sector and also the private sector. Organisations such as the European Investment Bank can make loans to local authorities for use as match funding. In some areas innovative loan and equity funds such as the Merseyside Special Investment fund have been set up to draw in resources from commercial banks.