// BBC UK NEWS — CRONACA
Stormont ministers give details on £39m growth fund
The Local Growth Fund consists of almost £12m in day-to-day spending and £27.4m for infrastructure
Stormont's ministers have given details of how a controversial £39m economic growth fund will be spent.
The Local Growth Fund (LGF) is a UK government scheme which replaces money which previously came to Northern Ireland from the EU.
The government has changed the focus of the fund away from the day-to-day operations of voluntary groups and towards infrastructure spending.
The Northern Ireland Council for Voluntary Action (Nicva) says that is leading to significant redundancies across the sector.
The LGF consists of almost £12m in day-to-day spending and £27.4m for infrastructure or capital projects.
That £27.4m is being spent via Stormont departments, with the biggest allocation of £13m going to the Department for the Economy.
Economy Minister Caoimhe Archibald said it would be used for projects that target innovation, business start-ups and social enterprises.
That includes £7.1m for Invest NI to help businesses with innovation projects and to undertake early-stage design work for its Mandeville industrial estate in Craigavon.
£7m to the Department for Communities for projects including town centre renewal and regenerating vacant properties