The REPF (Rural England Prosperity Fund) provides funding for small business and community infrastructure projects.
The fund is a replacement for EU structural funds such as LEADER and the ‘Growth Programme’.
Up to £33 million will go towards improving local infrastructure and essential services in rural areas the government has said, helping businesses in these areas to expand.
The announcement of this further round follows repeated NFU asks for these ring-fenced, rural-specific funds.
Examples of projects eligible for funding include the development of new products, facilities or building conversions to help rural businesses diversify.
Step in the right direction
Responding to the news, NFU Vice President Rachel Hallos said: “This funding is a welcome recognition of the vital role rural businesses play in driving economic growth and supporting local communities.
“The investment in infrastructure, essential services and farm diversification opportunities is a step in the right direction.
“However, the short notice makes it challenging for businesses to plan and complete projects effectively. We’ll continue working with Defra to ensure future rounds provide longer lead times and greater certainty, allowing rural businesses to make the most of these opportunities.”
“The investment in infrastructure, essential services and farm diversification opportunities is a step in the right direction”
NFU Vice President Rachel Hallos
Defra has said an additional £5 million will go towards the continuation of important services for rural communities, with part of this going towards The Rural Community Assets Fund – aimed at the refurbishment and development of community-owned assets.
Funding will also support the Rural Housing Enablers who help to bring forward sites to provide affordable housing opportunities, alongside a grant for ACRE (Action with Communities in Rural England) to provide advice and support to rural community and voluntary groups that offer social inclusion activities.
Funding allocation will be made to individual local authorities in line with the existing methodology with final confirmed allocations to be published ‘in due course’, Defra has said.
The NFU will continue to work with Defra to ensure that future rounds of the fund are accessible for all rural and farming communities and will have a longer funding period to ensure members can have certainty to invest in their businesses.
