£100m green schemes' deal to boost run-down areas of London
PUBLISHED: 19:00 21 October 2009 | UPDATED: 15:06 05 October 2010
A THOUSAND jobs are being created with a £100 million green' fund to regenerate some of London's poorest districts. A deal has been announced tonight between Mayor Boris Johnson and the EU Regional Commissioner to set up local energy and recycling projects
A THOUSAND jobs are being created with a £100 million 'green' fund to regenerate some of London's poorest districts.
A deal has been announced tonight between Mayor Boris Johnson and EU Regional Commissioner Pawel Samecki to set up local energy and recycling projects.
"Parts of London face real hardship," said the Mayor. "This cash will be boost some of our most deprived areas as well as playing a big role in tackling climate change."
A new energy network in East London at Barking is currently on the drawing board as one of the first projects to get backing.
The package includes £50m from the EU Regional Fund, £32m from the London Development Agency and £18m from the London Waste & Recycling Board, managed by the European Investment Bank. Its vice president Simon Brooks said: "This is a commitment to sustainable urban regeneration in the current financial and economic crisis that will improve quality of life in London, including regenerating East London through the 2012 Olympics."
The 'green' projects aim to push sustainable and carbon neutral economic growth to combat climate change and help London get its target of reducing CO2 emissions by 60 per cent by 2025.