The fund will be open to local authorities, urban regeneration companies and regeneration special purpose vehicles.
Dr McLeod commented:
“I warmly welcome today’s announcement of a new regeneration fund to be targeted at deprived communities and I hope that Dumfries & Galloway Council will look carefully at the opportunity of bidding into this fund. I am sure that there will be projects in some of the region’s more deprived communities which would fit the fund criteria.
“A key aspect of this new fund will be its focus on supporting projects which actively involve the communities concerned. I think this is a welcome approach. I believe that the regeneration efforts which are most likely to succeed in the long term are those which have the active support and involvement of the community.
“This is a welcome announcement from the Scottish Government and I hope that Dumfries & Galloway Council will look seriously at the possibility of making a bid for regeneration funding.”