The announcement of £2bn of EU funding for Wales over the next seven years is good news for Wales and will have a real impact on the Welsh economy, Finance and Government Business Minister Jane Hutt said today (Thursday 30 October 2014).
The announcement made through the UK Partnership Agreement sets out funding for European Structural and Investment Funds 2014-20. It also sets the framework for the approval of the Welsh Structural Fund Operational Programmes, which have been negotiated with the Commission over the last nine months.
The European Commission approval sees around £1.6bn going to West Wales and the Valleys and over £325m to East Wales.
The Finance Minister said:
“This announcement is a significant milestone with the European Commission confirming Structural Fund allocations to Wales of over £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.
“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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