The public purposes and objectives of the Fund are set forth in St. 1998, c. 463 and include, but are not limited to, the following:

1. (a) to encourage economic development in Economically Distressed Areas ofthe Commonwealth by providing Loans and Grants to finance Environmental Site Assessments and Environmental Cleanup Actions;
2. (b) to defray costs incurred in the administration of the Fund; and
3. (c) to purchase with funds not immediately required for use pursuant to 946 CMR 3.03(1) and (2), such securities as may be lawful investments for fiduciaries in the Commonwealth.