North Highland Regeneration Fund (NHRF) is a company limited by guarantee set up by the Nuclear Decommissioning Authority (NDA) to assist in the discharge of the NDA's socio-economic functions. The NDA's socio-economic vision is to "To support the creation of dynamic, sustainable local economies for communities living near our sites."
NHRF operates independently of the NDA but adheres to the same principles. To-date the NDA has given the fund £1.8M to provide loan funding to complement other existing sources of funding for small businesses. This initiative is designed to pump-prime both the start-up of new ventures and the growth of existing businesses as part of the drive to replace the jobs that will be lost in the area as the Dounreay plant is decommissioned.
NHRF has been established to consider applications for loans in support of businesses in the Dounreay travel to work area. It is run on behalf of the NDA by Caithness Chamber of Commerce, which provides management and administrative services with respect to the Fund's activities and is contracted to oversee the Fund on a day-to-day basis.
NHRF Board Directors
Rt. Hon. The Viscount Thurso (Chairman)
Nigel Lowe (NDA)
Professor John Fyfe
Dr. Keith Nicholson
Trudy Morris (Chief Executive, Caithness Chamber of Commerce)