By Daniel Hunter

Nicola Walker, CBI Head of Infrastructure, welcomed the news that the government have extended the Regional Growth Fund.

The Deputy Prime Minister announced that 102 companies and projects that applied for funding have been successful, following the most competitive round of the fund so far.

The companies will take a share of a £506 million pot of funding to attract significant private sector investment and create thousands of jobs across the country.

“The Regional Growth Fund is an important form of finance support for growing businesses so it’s encouraging to see awareness of the scheme improving with more bidders coming forward," Walker said.

“To ensure the smooth running of the Fund it’s crucial that the Government sticks to its commitment of making final offers and completing due diligence within six months. We also want to see the bid threshold reduced so that future funding rounds attract more small and medium-sized firms which have so much potential to grow.”

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