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The Finance for Business North East Fund was unveiled by Rosie Winterton MP, Minister for Regional Economic Development and Co-ordination, to scores of businesses at an event at Ramside Hall Hotel, Durham.

The new fund - formerly called JEREMIE - will underpin the growth of business start-ups, technology-based companies and growing smaller businesses, helping to create jobs and prosperity for the region through targeted loans and equity investments.

Over the next five years, it will support up to 850 small and medium-sized North East companies, with the aim of creating more than 5,000 jobs.

Rosie Winterton MP said: "I am delighted to formally launch the North East ‘super fund’.

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Author: BIS