£20m pledged to boost and create markets and public space

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£20m pledged to boost and create markets and public space

Young Londoners are being encouraged to take their ideas to market, as Sadiq Khan announced a £20 million investment today, in his third round of 'Good Growth' Funding. 

Highlighting the economic and cultural importance of public markets, he says he wants investment to act like start up loans to encourage others to open stalls, and serve local communities.

The Mayor of London, Sadiq Khan, said: “I’m proud to support London’s markets and in the next round of my Good Growth Fund, I want to continue supporting innovative projects which celebrate London’s diversity.

“This funding is part of my wider strategy to improve town centres and high streets. I am determined to address some of the big challenges facing our communities and ensure Londoners have a big say in the future of their city.”

Vice President, Project for Public Spaces, Kelly Verel, said: "The Mayor's continued investment in markets and acknowledgment of their power to improve cities for all residents are the main reasons Project for Public Spaces chose London to host the 10th International Public Markets Conference this week. Through our 30 years of experience working with and researching public markets, we know first-hand the many important benefits they can provide to their surrounding communities, especially when they have the political and financial support of their municipality.

“Markets provide economic opportunities for vendors, especially women, minorities, and immigrants who often have a harder time getting a start in business. And because markets draw people to a public space, they also bring increased economic benefits to nearby businesses and strengthen their community's social capital. It is exciting to see a global city like London go beyond rhetoric, and show their commitment to public markets at this level."

The next round of the Fund will open for applications in September, with further announcements to follow later this summer.

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