20 February 2009
By Paul Dicken
The Welsh Assembly Government is making the most of the pound’s fall against the euro to approve more economic projects using European Union funding.
Deputy First Minister and Plaid Cymru AM Ieuan Wyn Jones met senior officials at the European Commission in Brussels on February 16 to discuss how EU funds can support businesses in Wales during the recession.
Jones said: ‘We have already succeeded in raising our structural funds investment to reflect the increased value of the euro against sterling, and I hope that we can… negotiate interventions that directly respond to these difficult times.’
Of the 2007–2013 Structural Funds programme, £1bn has been invested so far, supporting 28,000 businesses. The EU’s aims in funding programmes such as the £3.3bn West Wales & the Valleys Convergence Programmes is to reduce unemployment, raise skills levels and increase energy efficiency in low-income homes.
‘In tackling the recession, we need to make the best use of European funding – and that includes ensuring that we have the flexibility to deploy funds where they are most needed,’ Jones said.
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