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| Wales' £2bn EU structural funding deal formally agreed | Wales' £2bn EU structural funding deal formally agreed |
| (about 9 hours later) | |
| A deal for Wales to receive £2bn in European aid between 2014 and 2020 has been formally agreed. | A deal for Wales to receive £2bn in European aid between 2014 and 2020 has been formally agreed. |
| The next stage will be for the individual programmes to be adopted as the money is invested in some of the poorest parts of the country. | The next stage will be for the individual programmes to be adopted as the money is invested in some of the poorest parts of the country. |
| It is the third time in a row that Wales has qualified for what is called "structural funding". | |
| This latest amount has to be used by the Welsh government for long-term sustainable economic growth and jobs. | This latest amount has to be used by the Welsh government for long-term sustainable economic growth and jobs. |
| The money is given to areas where the value of what is produced is three-quarters or less of the EU average. | The money is given to areas where the value of what is produced is three-quarters or less of the EU average. |
| Making 'real difference' | Making 'real difference' |
| Labour's Jenny Rathbone, who chairs the committee which monitors EU spending in Wales, welcomed the so-called partnership agreement. | Labour's Jenny Rathbone, who chairs the committee which monitors EU spending in Wales, welcomed the so-called partnership agreement. |
| The Cardiff Central AM told BBC Wales that this was a hugely significant amount of money and work would now have to be done on where the money should be spent. | The Cardiff Central AM told BBC Wales that this was a hugely significant amount of money and work would now have to be done on where the money should be spent. |
| She said: "This is big news for Wales. We're one of the first EU regions to be allocated this money. | She said: "This is big news for Wales. We're one of the first EU regions to be allocated this money. |
| "It's money that can make a real difference and careful thought will now have to go into making sure that it delivers the right projects across Wales." | "It's money that can make a real difference and careful thought will now have to go into making sure that it delivers the right projects across Wales." |