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To ask the Chancellor of the Exchequer
(1) pursuant to the answer of 17 July 2012, Official Report, column 672W, on business: government assistance, what funds are being allocated under the Business Finance Partnership by stage of allocation;
(2) what proportion of the funding allocated under the Business Finance Partnership has been drawn down by end recipients.
£1.2 billion has been allocated to the Business Finance Partnership. HM Treasury will be investing £700 million this autumn in funds that lend to mid-sized businesses, following the receipt of bids earlier in the year and subsequent due diligence to select the strongest candidates. The Department for Business, Innovation and Skills will invest a further £100 million in non-traditional lending channels such as peer-to-peer lenders and supply chain finance, also this autumn. Bidding for the remaining £400 million closed in July and assessment of these bids is currently under way.