The Chancellor announced the creation of a £250m Midlands Engine Investment Fund in his March 2016 Budget, aimed at boosting the region’s economy and supporting the growth ambitions of its 460,000 smaller businesses.
The fund, a joint agreement between the British Business Bank and eleven Local Enterprise Partnerships (LEPs) in the East & South East and West Midlands, is expected to bring together legacy funding from existing programmes, new funding from the British Business Bank and new European funding.
The British Business Bank has also committed to strengthening the links between its national access to finance programmes and local business support, including employing dedicated staff to work across the Midlands region. It will working with the LEPs to deliver the
Investment Strategy and anticipate that the first investments will be made in early 2017.
For more information, visit the the MEIF section on the British Business Bank website.