Purpose

In April 2022, government launched the UK
Shared Prosperity Fund (UKSPF), to replace the European Union
funded structural funds. The primary goal of the UKSPF is to build
pride in place and increase life chances across the UK. This aligns
with the Levelling Up White Paper missions. Funding is targeted
where it is needed most: building pride in place, supporting high
quality skills training, supporting pay, employment and
productivity growth and increasing life chances.

Government announced approval of the Investment Plan on the 5
December 2022, and Cabinet took the decision to accept and spend
these funds on 15th December, 2022
https://councillors.herefordshire.gov.uk/ieDecisionDetails.aspx?ID=9216

Hereford City Bike Share will deliver measure E1, which supports
improvements to town centers and high streets which support carbon
reduction.