The capital funding will be loaned to seven Local Authorities for up to 15 years to be spent on town centres in Tredegar, Rhymney, Grangetown, Llanelli, Rhyl, Caernarfon and Barry. During this time, the council can recycle and re-invest the funding in different projects which aim to improve their town centres and bring empty buildings back into use.
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The improvements will help create jobs and encourage economic growth, increase the number of homes available within town centres and make them a more diverse, vibrant and attractive place to visit.
The seven Local Authorities to be supported by the Town Centre Loan scheme are part of the Welsh Government's Tackling Poverty Fund areas and have been identified as areas with a high level of deprivation and in need of support.
(CD/MH)
