European Development Money Will Continue To 2020

economic development eco dev signScilly is set to receive another grant pot, which could take over from the Local Action Group fund.

That follows the announcement by the Secretary of State for Business, Vince Cable, that £512m of European Union money will be made available from 2014 to 2020 for the islands and Cornwall.

LAG has awarded most of its original £2.1m fund.

The Council’s strategic investment manager, Diana Mompoloki, says staff will spend the next year preparing guidelines to determine what could be supported in the future.

And to do that they will need to assess which projects have worked and which did not meet expectations.

There may be even more money available from 2015 too, as other European support funds, ERDF and ESF, are tapped into.

It’s hoped that works to develop St Mary’s quay will be funded from the current programme but if it isn’t, then the Council would apply to the next funding scheme, she said.

But Diana said it was disappointing that Scilly and Cornwall are still seen as underdeveloped by European standards after the last programme of grant funding, which was meant to boost our economy.