Social Investment Fund (SIF)
SIF is an £80m Executive intervention addressing deprivation and dereliction through strategic area based interventions.
The Social Investment Fund (SIF) Programme is a region wide programme with nine Social Investment Zones administered by TEO.
SIF is an £80 million Executive intervention dedicated to helping alleviate deprivation and dereliction through strategic area based interventions. The fund was 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.
61 projects were approved for funding. Of these, 47 are capital projects – c£44.5million (community and health and wellbeing facilities) and 19 are revenue projects – c£33.5 million (employability, educational and early intervention programmes). Of the approved capital projects, 37 have been completed delivering 97 new and refurbished community facilities. Of the remaining projects, 7 are in construction and 3 require re-approval due to increased costs. 18 of the 19 revenue projects have been successfully completed with the remaining project due to complete in autumn 2020.
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 and contract management service.
For further information contact:
Kenny Knox email@example.com