Finance Minister John O’Dowd said despite “months of pressing the British government”, he still had little information about how the local growth fund will work and said there was “deep uncertainty” within the voluntary sector.
“The scant information I do have does not paint a promising picture,” he told the assembly.
“The £46m per year will be heavily skewed towards capital funding.
“The shared prosperity fund was three quarters resource funding, but the local growth fund will only be one third resource funding.”
He said if the government did not provide more clarity, flexibility and more resource funding, then Northern Ireland risked losing front-line jobs, vital services and infrastructure that connects “our most vulnerable citizens to opportunities”.
The minister is due to meet the Secretary of State Hilary Benn on Wednesday to raise the matter with him and Housing and Communities Secretary Steve Reed.
A UK government spokesperson said it was “committed to engagement with stakeholders in Northern Ireland to help implement a package of funding that meets local needs and delivers impact”.
“More information on the development of the local growth fund in Northern Ireland and engagement plans will be set out soon,” the spokesperson added.
