European funding confirmed to support innovation, jobs and skills in the capital
The Mayor of London has called on organisations to bid for shares of over £560m of new European funding that is now available to support innovation and businesses in the capital, with a particular focus on projects that can help Londoners into education, employment or training and create new jobs.
That funding is set to be matched by contributions from partners including the Skills Funding Agency, Department of Work and Pensions and Big Lottery Fund, which potentially means the programme will be worth over £1.1billion over the next seven years. With London’s population forecast to increase to over 10m by 2030, the funding will support the Mayor’s aims to provide crucial new jobs and skills.
The first round of European programmes managed by City Hall has already been used to help 63,000 people into work in London since 2007, supported 15,000 small businesses and leveraged £700m of investment in green infrastructure through the Mayor’s pioneering London Green Fund. Responsibility for managing EU funds in London was devolved to City Hall in 2007.
The Mayor of London, Boris Johnson, said:
“Tens of thousands of Londoners have already been helped into work through these programmes and, as our city continues to grow, this new funding will enable thousands more people to get jobs and boost the capital’s economy.”