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<p>HM Treasury has been working closely with both the EIB and the North-East Fund
with the aim of seeing the North-East Fund’s application progressed as quickly as
possible.</p><p> </p><p>Significant, positive progress was made in December 2017 with
the EIB Management Committee giving its approval to the application. We are now confident
that the North-East Fund’s application can move forward quickly. However, the final
decision on signature is a commercial decision for the North-East Fund, subject to
the standard contract negotiations between themselves and the EIB.</p>
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