Welsh MEP Derek Vaughan has welcomed the new European Partnership agreement which will see the poorest areas in Wales receive billions of dollars in European funding. The funding is for all of Wales with West Wales and the valleys receiving the most, but east Wales also seeing a big increase.
Mr Vaughan said the funds will support programs aimed at generating growth and creating jobs.
"EU funding is vital for programs such as Jobs Growth Wales, the Welsh Government Modern Apprenticeship scheme and business support schemes like the Joint European Resources for Micro to Medium Enterprises (JEREMIE) fund which helps Welsh businesses to expand. It also provides essential support for infrastructure projects and town centre developments.
EU projects have already helped some 186,900 people to gain qualifications and over 59,800 into work, and created some 29,000 jobs and over 9,800 enterprises. This new funding means we can continue to build on these positive results.
I worked very hard to secure this level of funding for Wales. Initially the Tories were insisting that we received £400 million less, but the Welsh Government and I lobbied the UK Government and the EU Commissioner to ensure Wales didn't miss out.
Wales has a good track record in terms of spending EU funding wisely on worthwhile programs and I'm confident this will continue to be the case with this new funding. I'm looking forward to seeing the positive difference that this funding makes in Wales."