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Aberdeen and Inverness could benefit from new financing tool

First Minister Nicola Sturgeon
First Minister Nicola Sturgeon

Aberdeen and Inverness could benefit from a new financing tool which unlocked hundreds of millions of pound of investment in Edinburgh.

The Growth Accelerator Model, which combines public and private sector investment, helped secure £850milion for the St James Quarter in the capital.

The scheme will now serve as the basis for new funding which could help Scotland’s six cities benefit from £6billion for new infrastructure investments.

Speaking at the latest meeting of the Scottish Cities Alliance, Deputy First Minister Nicola Sturgeon said the new financing model would strengthen the government’s commitment to boosting infrastructure investment and helping cities deliver their plans to create jobs and economic growth.

“Public and private sectors will share the risks by taking a payment-by-results approach,” she said.

“This approach will help to unlock stalled sites and ensure the public sector also benefits from the success of investments

“This will deliver opportunities and increase flexibility for our cities as well as creating an incentive to make sustainable economic growth a priority in investment decisions.”

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