ESIF Reserve Fund
The ESIF Reserve Fund is being established in England to ensure the full use of available funding of the 2014-2020 ESIF Programme.
Any funds that have not been committed through local allocation will be pulled together to provide the basis for a national fund.
The Black Country has committed 98% of its ESIF allocation; any new funds will be additional monies into the sub-region.
It is essential that those projects currently funded continue to spend all allocations effectively as any project issues could result in clawback to the central funding pot.
The Fund will be launched at the start of 2020 and all calls will be England-wide, by Priority Axis. Projects that are able to bring together national and local priorities will be prioritised for this fund. This funding will continue to have a 50:50 intervention rate.
Priority will be given to:
- Applications that are either local or Pan-LEP area (on the basis of existing pan-regional structures, such as the WMCA/Midlands Engine Investment Fund
- Community-level initiatives (against criteria to be developed)
- Clear delivery of the Industrial Strategy and (where relevant) Grand Challenges
- Offer innovation, either in substance of activity or mode of service delivery
- Provide links to domestic growth initiatives.
We will keep you informed when we know more.