According to the annual performance reports published today by the Government, all the England’s Regional Development Agencies (RDAs) are meeting the objectives and targets set out in their corporate plans.
In a document published on the Department for Business Innovation & Skills’s website, Rosie Winterton, Minister for Regional Economic Development, was quoted as saying that “these reports show that the Regional Development Agencies are playing a key role at the frontline of our response to the global economic downturn. They have risen to the immediate challenge of the recession with one eye firmly fixed on the future and the upturn.
“They have done this whilst achieving their corporate objectives for 2008/09 and improving the overall economic outlook for their regions. By working with their local and national partners, RDAs are making a real difference”.
Among the RDAs key achievements, the statement cites the BusinessLink service, which over the last year has nationally supported 942,166 businesses, the majority of which are Small and Medium Enterprises (SMEs) and the Transition Loan Funds (TLF), introduced to address the particular circumstances of the current credit market.
According to data, these funds have agreed over 280 loans since their launch, totalling more than £28 million and safeguarding over 9,000 jobs.