HC Deb 01 April 2004 vol 419 cc1596-7W
Mrs. Curtis-Thomas

To ask the Secretary of State for Trade and Industry how much has been allocated to Crosby from the Phoenix Fund. [164411]

Nigel Griffiths

Seven CDFFs (Community Development Finance Institutions), which is covered by the Phoenix fund, are currently supported in the North West region of which one (Train 2000 Ltd.) is Merseyside based. Train 2000 have been awarded £516,757 (revenue support £109,257: capital support £407,500) and to-date have advanced 30 loans, one of which was to a woman entrepreneur within the Crosby constituency.

Train 2000's principal target group is female entrepreneurs unable to access business finance from conventional sources.

Train 2000 have been successful in receiving funding from the Phoenix Development Fund as well as from CDFI(Community Development Finance Institutions).

North West

Total Support currently committed to NW CDFI's (Community Development Finance Institutions) is £4,844,932 (expected to rise to £6,934,889 after completion of the third process). To date 232 loans has been advanced within the North West region totalling £1,398,725.

There are no Phoenix Development Fund Projects that focus solely on Crosby, however Crosby will be covered by those projects listed as operating in the whole of Liverpool, Merseyside and the North West. The Phoenix Development Fund Projects, which fall within the North West are as follows.

Project Phoenix Development Fund (to March 2004) Phoenix Development fund Building on the Best April 2004– March 2006) City growth Strategies (April 2004–March 2006) City Growth Strategies (April 2004–March 2006) Development Fund for Rural Renewal (to March 2004) Area Covered
Granby and Toxteth Development Trust 26,988 Granby and Toxteth
Dingle Opportunities 778,783 11 Objective 1 pathway Areas in Liverpool(no mention of Crosby
Train 2000 225,000 799,000 Merseyside
Knowsley MBC 17,483 Knowsley
St. Helens Chamber 471,463 St. Helen's
St. Helens (via North West RDA) 375,000 St. Helen's
Womens Business Network North West 242,520 North West
Liverpool Institute of Performing Arts 254,782 528,000 North West
Cats Pyjamas 371,000 Liverpool
Liverpool (via North West RDA) 250,000 Liverpool
Manchester (via North West RDA) 250,000 Manchester
Other NW 1,470,000 814,200 NW outside Merseyside

Included in the above is information about City Growth and Development Fund for Rural Renewal, which comes under the Phoenix fund.