The SNP's Stuart McMillan held talks with the minister responsible for RI this afternoon, after it was revealed the regeneration outfit's cash would be cut before being stopped completely
Mr McMillan says he has been assured by Alex Neil that RI will survive beyond 2013 and be 'able to bid for government funding up until 2015/16'.
The minister has told Mr McMillan that, thereafter, the assets of RI will be transferred to another organisation.
Mr McMillan said: "I would like to thank the cabinet secretary for agreeing to meet me so soon after I made the request to do so yesterday.
"I think this shows the importance the Cabinet Secretary places upon the regeneration of Inverclyde and wider Scotland.
"The cabinet secretary agreed with me that Inverclyde has made positive strides due to the work of RI.
"He has listened to my arguments and provided me with an assurance that RI will continue up until the end of its natural life - 2015/16.
"Riverside Inverclyde will get funding for next year and thereafter they will be in a position to bid for funds from the new government regeneration strategy that will be introduced.
"The news yesterday will have come as a shock to everyone but I am delighted the cabinet secretary has listened to my arguments and conceded on the future of RI.
"Acting decisively and pushing Inverclyde's case forward was the right course of action to take here.
"I am elected to play my part in moving Inverclyde forward and will always fight Inverclyde's corner."