Question

To ask the Secretary of State for Business, Innovation and Skills, how much funding had been drawn down by successful bidders to the Regional Growth Fund by 31 December 2014; and what proportion of the overall allocation for each round that funding represents.

The table sets out the total amount drawn down by operational RGF awards to date and the financial years in which the remaining RGF and eRGF is committed through to 31 March 2017.

Unless otherwise agreed, projects and programmes in Rounds 1 to 4 have until 31 March 2015 to draw down their funding and projects and programmes in Round 5 and 6 will be able to draw down funding until 31 March 2017. The Department agrees a draw down profile with each organisation when they sign their grant offer letter that matches the beneficiary’s own investment schedules and job commitments. The subsequent rate of draw down is then subject to the beneficiaries meeting these conditions.

RGF Drawn Down by year (£m)

*This is the actual amount paid to beneficiaries and claims awaiting payment as of 24 March 2015.