Press Release: European Commission approves the Community Development Venture Fund providing risk capital for enterprises in the most deprived areas in the UK

The European Commission approved on 9 April 2002 the UK Government's proposal to contribute up to £ 20 million to the Community Development Venture Fund. This Fund is set up as a vehicle to promote entrepreneurial activity in the UK's most deprived areas. To achieve this, the Fund will provide risk capital to starters and small and medium-sized businesses located in these areas.