News
Convergence Funding
Friday 24th January 2020
💷Lots of enquiries today regarding the long awaited convergence funding, so here is what we know so far....💷
💥There is a total of £90 million available for Scotland, with £10 million of this weighted with 70% towards Region 3 land and 30% towards Region 2 land to support the marginal and remote areas.
💥We are still awaiting the details of the payment calculation, this is being dealt with centrally with Scot Gov HQ working on the finer details at present - not our local SGRPID offices.
💥The payment will be made to eligible businesses and will be based on eligible BPS areas, eligible SSBSS stock and eligible SUSSS numbers.
💥The payment is expected to be with you during March 2020 and you will be provided with a breakdown of how this payment has been calculated.
💥There is a cap of £55,000 on the convergence payment only - this does not include BPS funding as some press releases may have indicated.
Please get in touch if you have any further queries.