Social Investment Fund
The Executive agreed on 22 March 2011 to the establishment of the Social Investment Fund (SIF) and monies totalling £80million over a four year period were subsequently allocated in the Budget.
About the fund
The high level aim of the Social Investment Fund is to reduce poverty, unemployment and physical deterioration in areas through area based interventions of significant scale which will be delivered in partnership with communities. The Fund will to encourage communities, statutory agencies, business and departments to work together in a co-ordinated way, reducing duplication, sharing best practice and enhancing existing provision for the benefits of those communities most in need.
The SIF's strategic objectives are to support communities to:
- build Pathways to Employment
- tackle the systemic issues linked to deprivation
- increase community services
- address dereliction
The following pre discussion paper was published in March 2011 and outlines the high level strategic concept, objectives and overall methodology of the Fund.
Operation of the fund
Following consideration of the issues emerging from the consultation final proposals on the operation of the Fund were brought to the Executive and agreed on 17 May 2012.
The plans for each zone will be developed and managed via steering groups. The Executive is looking for people to be part of a steering group working with statutory, political and business representatives in a co-ordinated way.
Each steering group will engage with the wider community to identify the needs of their zone and to ensure priorities are reflected in the area plan. The group will work together to address the interlinked causes and impact of deprivation.
Throughout June a series of information sessions will be held to provide detail on the nomination application process.
For more information on when the sessions are taking place and how to apply please visit the nidirect website.
Consultation on the proposed operation of the Social Investment Fund (SIF)
A consultation document was published in 2011 to seek your views on the proposed operation of the Social Investment Fund (SIF), including options for applying to the Fund, application/assessment criteria, how the Fund should be managed and the structures to support its delivery. A number of consultation events were also held to hear directly from stakeholders
It was intended that, in responding to the document, you will have had an opportunity to put forward your views to help finalise the operation of the Fund.
The Consultation on the proposed operation of the Social Investment Fund (SIF) closed on the 23 December 2011 and responses received by that date were analysed and captured in a report which can be accessed at the link below:
- Overview of responses - Consultation on the proposed operation of the Social Investment Fund (PDF 159KB)