London and Newham Mayors launch £13m fund for innovative projects to regenerate the Royal Docks
PUBLISHED: 11:59 22 July 2020 | UPDATED: 12:49 22 July 2020
A £13million fund has been launched by the mayor of London Sadiq Khan and Newham mayor Rokhsana Fiaz to transform the Royal Docks.
The Royal Docks Good Growth Fund will help organisations in the area deliver projects to make it a more attractive place to live, work, visit and invest.
It’s based on the London-wide Good Growth Fund launched by Mr Khan in 2017.
The new fund is open to public, private and third-sector organisations, including community groups, social enterprises and charities which work with people in the area.
It will cover up to half of the total project value.
Ms Fiaz said: “The pandemic has highlighted the increased financial pressures for Londoners and our people in Newham, which has the highest number of furloughed staff and small businesses in the capital.
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“We face the prospect of some 102,000 residents at risk of unemployment, so this fund will be an important catalyst to offset the economic challenges people and businesses will face across London.”
The fund will support projects which are inclusive, innovative and address challenges facing the Royal Docks.
The “good growth” principle means it will fund projects which let people actively participate in their community and civic life, as well as those which improve existing public spaces and benefit health and wellbeing.
It aims to support economic activity, create new jobs and workplaces, and ensure these opportunities are accessible to all.
Projects already supported by the London-wide fund include the creation of low-cost workspaces from rejuvenated garages, community market gardens, refurbished arts and cultural spaces, and upgrading existing street markets.
The Royal Docks is the capital’s only Enterprise Zone.
Mr Khan, who is consulting on plans to relocate the Greater London Authority from City Hall to The Crystal, said the fund will “drive the transformation of a part of the capital with enormous economic and social potential.”
“This part of London has a huge pool of creative talent – this, combined with local people’s enthusiasm and range of expertise, means I have no doubt we can deliver many innovative projects to regenerate the Royal Docks.”
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