Wales in line for 2bn of European funds
Thu, 30th October 2014

Wales in line for £2bn of European funds

Wales is to get £2bn of EU funding which will have a "real impact" on  the country's economy and job creation, according to the finance minister.

Made through the UK Partnership Agreement, the announcement sets out funding for European Structural and Investment Funds 2014-20, as well as a framework for the approval of the Welsh Structural Fund Operational Programmes.

About £1.6bn will go to the Valleys and West Wales and more than £325m will go to East Wales as a result of the European Commission approval.

Finance and government business minister Jane Hutt said: "This announcement is a significant milestone with the European Commission confirming Structural Fund allocations to Wales of more than £2bn.

"This is great news for Wales and this new EU funding will have a real impact on the Welsh economy and job creation. It will help us deliver more innovative and inspiring EU-funded projects."

Hutt added: "I am now expecting both the European Regional Development Fund and European Social Fund programmes for West Wales and the Valleys and for East Wales to be approved very shortly.

"This will allow us to start delivering on our shared goals across government for sustainable economic growth and jobs."

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category Wales  |  source Insider Media