He made the announcement as he confirmed Wales remained committed to negotiating with the UK government to sustain future regional funding.
Welsh officials are keen to ensure the country, which is a net beneficiary of EU funding, is not out of pocket after the UK leaves the bloc.
At the end of November, a total of £1.16bn of the structural funding tranche had been committed, which equates to 60% of the total available for the round.
Drakeford said the latest figures show that Wales is continuing to invest EU funds to provide stability for businesses and people across Wales, helping local economies and the labour market. “We have now invested £1.16bn of the 2014-2020 EU structural funds allocation for Wales, supporting schemes including apprenticeships, the Wales Business Fund, Cardiff University’s Brain Imaging Centre, the Menai Science Park and Deep Green marine energy technology.”
This achievement, he said, follows Wales’ success in securing an extended guarantee from the UK government to cover all investments in projects approved before the UK leaves the EU.
Chancellor Philip Hammond had set a deadline of last month’s Autumn Statement for EU funding deals to be agreed in order for them to be guaranteed after Brexit, with schemes needing Treasury approval after this point.
However, Drakeford said that the Welsh Government will be able to negotiate directly with the UK Government about future regional funding and called for funding for structural and investment projects in Wales to be guaranteed after the UK leaves the EU.
“Wales voted to leave the EU but it did not vote to see investment in Wales cut by the UK government” he said.
“Wales must not lose a single penny of funding as a result of Brexit. We are negotiating directly with the UK government to ensure devolved policies and funding – such as future regional funding – comes directly to the Welsh Government from the EU. There must be no rolling back of devolution.”
Julie Morgan, chair of the Wales Programme Monitoring Committee, said: “It is crucial we work quickly to invest this funding in schemes which meet our programme objectives and we maximise every EU funding opportunity to benefit businesses, communities and people before the UK leaves the EU.”
She pledged to ensure programmes were implemented effectively and that Wales received value for money from EU-funded programmes.
“We remain an active part of the EU until the UK leaves and I hope these discussions can inform the debate underway across the EU about the future of EU regional policy, as well as help prepare Wales for a our future outside the EU,” she concluded.
