The fund will be used to rebuild damaged streets using locally trained builders
The Mayor of London has made £50m available to rebuild and regenerate parts of London hit by rioting.
Boris Johnson said the money would make long-term improvements to high streets damaged by fires and looting.
The Mayor said the fund would be used not only to rebuild homes and businesses, but to improve the built environment for those living and working in affected areas.
As many local people would be employed in the rebuilding work as possible, said the Mayor, who pledged to create construction apprenticeships in affected areas.
The Mayor said: “We have always recognised the importance of improving London’s town centres and clearly after the destruction caused by the recent events across the city this is a bigger challenge than ever.”
“That is why I am allocating £50 million to ensure that these areas are regenerated quickly and transformed into safe, attractive, vibrant and economically successful places to live, work and invest in.”