Further £100m committed to NPIF
26 November, 2020
category: Business Support
An additional £100m has been allocated for the Northern Powerhouse Investment Fund (NPIF), taking the total investment to £500m.
The British Business Bank launched the NPIF in d in February 2017 and has recently passed its £200m milestone, having directly invested £200m into more than 700 Northern-based SMEs in deals that have attracted an additional £232m of investment from the private sector.
Regionally, the fund has reached a series of milestones in recent months, including £20m of investment in the Humber, £30m in Lancashire and £30m in Liverpool City Region, and now supports almost one in five equity deals across the North.
Chancellor confirmed the additional allocation in his Spending Review yesterday (25 November 2020).