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Crown Estate to fund coastal regeneration

A coastal regeneration fund financed by the Crown Estate has been announced by the Treasury

Fifty per cent of the Crown Estate’s revenue from marine activities will be given to the fund, which is intended to support projects in coastal communities involving charities, the environment, education and health.

The Coastal Communities Fund will open in April 2012 with £23.7 million available, based on 50 percent of the Crown Estate’s £47.4 million revenue from marine activities in 2010/11.

Chancellor George Osborne said: “I know that coastal communities play a vital role in wellbeing of the whole country and I am glad that we can provide support for them through this new fund and ensure that they continue to benefit the whole of the UK.”

The fund will be open to bids and run by the Big Lottery Fund. The Treasury said projects could include support for developing renewable energy, improving skills or environmental improvement.

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