Defra and the Environment Agency today (Thursday 9 February 2011) announced that £16.9million of central government funding will be allocated to reduce the risk of flood and coastal erosion in North West England during 2012/2013. £3.3 million of the Flood Defence Grant in Aid money will be used towards the construction of the Cockermouth Flood Risk Management Scheme, to reduce the risk of flooding to more than 400 homes and businesses in the town. The Flood Defence Grant in Aid money forms an important part of partnership funding* that, once confirmed, will enable the scheme to be built. The total cost of the scheme is £4.4 million and so far, Cockermouth Flood Action Group, Cumbria Community Foundation, Cockermouth Chamber of Trade, local businesses and the local community have all committed to help fund the scheme. Cumbria County Council and Allerdale Borough Council have also committed to make an important contribution. Once built, the scheme in Cockermouth will reduce the risk of flooding to a 1% chance of flooding in any one year, helping to protect homes and business from flooding from the River Cocker and the River Derwent.