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Six-year EU money plan revealed Six-year EU money plan revealed
(about 1 hour later)
Northern Ireland is to receive £500m in European Union funding over the next six years.Northern Ireland is to receive £500m in European Union funding over the next six years.
The European Commission said the money would go towards supporting economic development, peace and reconciliation and cross-border co-operation.The European Commission said the money would go towards supporting economic development, peace and reconciliation and cross-border co-operation.
Three new programmes have been approved by the European Commission as part of the EU's cohesion policy for 2007-2013.Three new programmes have been approved by the European Commission as part of the EU's cohesion policy for 2007-2013.
A taskforce was set up in June to boost Northern Ireland's use of European programmes and co-ordinate resources.A taskforce was set up in June to boost Northern Ireland's use of European programmes and co-ordinate resources.
The funding will be allocated through three schemes:The funding will be allocated through three schemes:
  • The Peace III programme;
  • The Regional Competitiveness and Employment Programme;
  • The Cross-Border Co-operation Programme with Ireland and Scotland.
  • The Peace III programme;
  • The Regional Competitiveness and Employment Programme;
  • The Cross-Border Co-operation Programme with Ireland and Scotland.
Announcing the funding, Danuta Hubner, EU Commissioner for Regional Policy, said economic and social development in Northern Ireland was important.Announcing the funding, Danuta Hubner, EU Commissioner for Regional Policy, said economic and social development in Northern Ireland was important.
"Through these three programmes, the European Union is providing Northern Ireland with real opportunities to develop its economic potential and competitiveness, to improve the situation of its border regions, and to make further progress towards a peaceful society," she said."Through these three programmes, the European Union is providing Northern Ireland with real opportunities to develop its economic potential and competitiveness, to improve the situation of its border regions, and to make further progress towards a peaceful society," she said.
However, Ulster Unionist MEP Jim Nicholson said the funding announced on Tuesday was merely "recycled and repackaged".However, Ulster Unionist MEP Jim Nicholson said the funding announced on Tuesday was merely "recycled and repackaged".
"Whilst I am disappointed that the European Commission and others have attempted to portray this as new money, I do welcome the impact today's announcement will have for the many groups on the ground who have been waiting for the European Commission to approve this money.""Whilst I am disappointed that the European Commission and others have attempted to portray this as new money, I do welcome the impact today's announcement will have for the many groups on the ground who have been waiting for the European Commission to approve this money."
Sinn Fein MEP Bairbre de Brun welcomed the announcement, saying it "provides the potential for more economic regeneration for cross-border communities".