|Many of the
neighbourhoods which will receive financial support have been affected
by the recent floods, so their communities and businesses can be
restored to normal after the damaging weather.
The CCF was created back in 2012 and so far it has created 6,500 jobs and over 2,000 apprenticeships and training schemes.
Chief secretary of the treasury Danny Alexander says the fund will
help villages and coastal towns rebuild regenerate their
"This is even more important given the extreme weather and I'm very
pleased we're giving £17 million of the fund to projects in areas hit by
floods," he explains, reports sky.com. "Additionally, we have invested £5 million from the fund's reserve into the government's programme for flood recovery."
Mr Alexander visited one of the projects that will receive financial
support in Hull - his hometown. The project involves turning a disused
dock into a technology hub to boost the local economy; 300,000 will be
donated to the scheme to make it happen.