The regeneration of Medway could be hit by the worldwide collapse of major banks.

Three days ago the Medway Renaissance Partnership agreed to discuss the impact of the crisis on the multi-billion pound plans.

That was before the financial market meltdown in Britain and the US on Wednesday.

It came minutes after warnings from Susan Priest, head of the regional development agency, that the government was withdrawing millions of pounds from regeneration projects, and reducing the investment in infrastructure.

The discussion is expected to take place at the board's November meeting.

Meanwhile, the Thames Gateway Kent Partnership - which covers Medway, Swale and the Kent Thameside authority areas - has decided to discuss the impact on the crisis behind closed doors.

Both bodies involve government, business chiefs and councils.