European Regional Development Fund Programme
The European Regional Development Fund (ERDF) is one of the European Union’s Structural Funds which tackles regional disparities across Europe.
ERDF helps to create economic development and growth; it gives support to businesses, encourages new ideas and supports regeneration.
Although the United Kingdom has now left the European Union, under the terms of the Withdrawal Agreement, EU programmes will continue to operate in the UK until their closure in 2023-24.
About the The London Economic Action Partnership (LEAP)
The London Economic Action Partnership (LEAP) has been responsible for the strategic oversight of the European Structural and Investment Funds (ESIF) on behalf of the Government. The LEAP has been notionally allocated €748 million of funding European Social Fund (ESF) and ERDF to create jobs and support business growth in London.
You can find out the latest information and guidance on ESF and ERDF programmes on GOV.UK.
ESIF Strategy for London
The ESIF Strategy for London sets out four key areas for investment against the LEAP’s four Jobs and Growth Plan priorities:
- skills and employment
- SME competitiveness
- science and technology
- infrastructure.
ERDF London targets
-
9,414
small businesses to receive support
-
2,202
jobs to be created
-
575
enterprises to work with research institutions
-
36,747
tonnes of CO2 decrease in GHG
ERDF Funds
£75m was ring-fenced for two new funds that will build on the successes of the 2007-13 London Green Fund and London SME Fund.
The GLA has procured a Fund Manager, Amber Infrastructure Limited, to manage a new fund, called Mayor of London's Energy Efficiency Fund (MEEF).
The GLA has committed £51.2m ERDF to MEEF and Amber Infrastructure Limited has successfully secured £456m from private investors to make MEEF (almost) a £500m fund. Additionally, the European Investment Bank (EIB) will consider, on a case by case basis, providing finance to projects supported by MEEF, up to total value of £100m.
The £100m Greater London Investment Fund (GLIF) has been developed specifically to target businesses which have had difficulties in securing crucial investment. The GLIF consists of three sub-funds that invest loan and equity finance in SMEs operating in sectors that are important in enhancing London's competitiveness, including the emerging circular economy. The funding comes from a number of sources: £35m from ERDF and £50m from the EIB; £7 million from the London Waste and Recycling Board (LWARB) and £11 million in returns from previous investments made through Funding London (on behalf of the Mayor).
ERDF funded projects
Details of projects funded by ERDF in London are available to read
Further guidance
Find out further information about the European Structural and Investment Funds programme for 2014-20 in England.