A further £3 million for Riverside Inverclyde and Irvine Bay Urban Regeneration Companies in 2013-2014 to assist with their running costs and to enable them to continue with priority projects, it was announced today.

The two companies are already each due to receive £2.5 million in 2012-13 and will now each benefit from £1.5m in 2013-14.

Alex Neil, Cabinet Secretary for Infrastructure and Capital Investment, said: "The Scottish Government is completely committed to promoting regeneration across Scotland and I am delighted to offer a further £1.5 million to both Riverside Inverclyde and Irvine Bay Urban Regeneration Companies. The additional resource will provide stability for 2013-14 for the companies as we work with them to develop revised plans and funding packages for the future.

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"I have identified additional funds and believe that these will give the URCS and the local communities the support they need to work through the transition period over the next two years.

"We remain committed to seeing URCs take their plans forward, but we must also face the reality that funding models need to change. In the face of massive Westminster cuts to our budget, we all must do all we can to lever in extra funding and deliver maximum value for money.

"The Scottish Government's forthcoming Regeneration Strategy will map out further detail on how the Scottish Government will work with partners to drive forward the regeneration agenda to meet the needs of a 21st century Scotland. We will also announce a new £50 million JESSICA Fund for which these URCs will be eligible to apply."

Scotland's Regeneration Strategy will be launched on Monday.

(GK)