UK's Community Development fund gets green light from EC

The Community Development Venture Fund, a project that the UK 's Chancellor of the Exchequer hopes will encourage private equity firms to invest in the UK's most deprived areas, has been given the go-ahead by the European Commission.

The fund is a private sector initiative supported by the UK government and will target businesses in the country's deprived areas, with a view to stimulating entrepreneurial activity.

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