Northwest Urban Investment Fund
The Northwest Urban Investment Fund (NWUIF) is a new £100
million fund to help support urban development projects in
England’s Northwest.
The fund is a
Joint European Support for Sustainable Investment in City
Areas (JESSICA) initiative. This is a new financial
instrument created by the European Commission in conjunction with
the European Investment Bank.
The Northwest Urban Investment Fund will provide debt, equity
and guarantee investment to support projects that will unlock
sustainable development projects in the Northwest’s urban
areas.
These areas are defined in the Investment Frameworks for
Action Area 3.2 and
Action Area 4.3 of the Northwest
Operational Programme for ERDF.
Project investments will include the development of employment
sites, creation of new commercial floor space, reclamation of
derelict or contaminated land, and provision of site servicing and
infrastructure.
The Northwest Urban Investment Fund is expected to create or
safeguard thousands of jobs in the Northwest by 2015 and provide a
boost in Gross Value Added (GVA) for the Northwest economy.
The Northwest Urban Investment Fund has been established by the
Northwest Regional Development Agency (NWDA) in partnership with
the European Investment Bank (EIB) who have been appointed as
Holding Fund Manager, and with funding from the European Regional
Development Fund (ERDF). The £100m fund includes £50m from the ERDF
and the equivalent match of £50m from the NWDA.
For further information about the procurement process please
visit the
EIB website.
More Information
Read Press
Release
Download Northwest Urban
Investment Fund brochure