Social Investment Fund (SIF)
SIF is an £80m Executive intervention dedicated to helping alleviate deprivation and dereliction through strategic area based intervention.
The Social Investment Fund (SIF) Programme is a region wide programme with nine Social Investment Zones administered by TEO. Each zone has developed Area Plans consisting of 10 priority projects each.
SIF is an £80 million Executive intervention dedicated to helping alleviate deprivation and dereliction through strategic area based interventions. The fund is allocated to 50% capital and 50% revenue projects. The aim of the SIF Programme is to reduce poverty, unemployment and physical deterioration through interventions of significant scale. SIF has four strategic objectives, namely:
- Build pathways to employment – by tackling educational under achievement and barriers to employment; tackling skills deficits and promoting jobs brokerage, widening access to the labour market, promoting business start –up and increasing sustainability through social enterprise.
- Tackle the systemic issues linked to deprivation – including poor mental and physical health, young unsupported parents, substance abuse, children and young people at risk and enhancing community capacity, confidence and partnership working to help reduce deprivation.
- Increase community services – By regenerating and refurbishing existing facilities and providing play facilities and environmental improvements.
- Address dereliction – promoting investment in the physical regeneration of deprived communities.
There are currently 61 projects approved for funding. Of these, 45 are capital projects – c £36million (community facilities) and 16 are revenue projects – c£33 million (employability and early intervention programmes).
SIB is supporting TEO through the provision of strategic advice on approval of Economic Appraisals, project governance, due diligence, the development of procurement strategies and a full project management service.
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