Question reference: S6W-21920
- Asked by: Liam Kerr, MSP for North East Scotland, Scottish Conservative and Unionist Party
- Date lodged: 29 September 2023
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Current status: Answered by Richard Lochhead on 1 November 2023
Question
To ask the Scottish Government whether it will provide an update on whether the £20 million that was allocated in the first round of the Just Transition Fund has been distributed in its entirety.
Answer
In Year 1, the Just Transition Fund’s £20 million allocation was made up of £10 million capital grants and £10 million Financial Transactions.
Of the £20 million available to be distributed in 2022-23, the full £10 million capital grant allocation was spent. £0.5 million Financial Transactions were allocated to Social Investment Scotland’s Social Enterprise Just Transition Fund and £9.5 million Financial Transactions were unallocated.
In 2023-24 the Fund’s entire Financial Transaction allocation of £25 million has been allocated to the Scottish National Investment Bank. Businesses, projects, and their representatives can contact the Bank via its website, where the Bank’s new enquiries team will handle the approach. Up to an additional £25 million grant funding will be spent as part of the ongoing delivery of the £50 million grant funding committed to in 2022-23.