The Scottish and UK administrations had each committed £25m to projects in the area, including housing developments.
Funding for a growth and investment deal in Argyll and Bute has been put on hold by the UK government.
The UK government now says a final decision on the funding will not be made until after its review of the national finances. First Minister John Swinney had promised to sign the deal as part of his programme for government earlier this month.He added: “The Scottish government is prepared to go ahead and sign this - it’s an important contribution to the regeneration of Argyll and Bute and to ensure that a most magnificent part of our country is able to benefit from new economic opportunities.”A spokesperson for the UK government said it was "assessing the challenge of a £22bn in-year black hole".
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