LISTEN: Over £700 Million investment for infrastructure, regeneration and tourism in Northern Ireland

By Q Radio News.

Over £700 million of new funding for infrastructure, regeneration, and tourism projects across Northern Ireland has been announced by Finance Minister Conor Murphy .

The investment is the result of the Executive today agreeing to match fund £562 million for City and Growth Deals and £55 million for the Inclusive Future Fund. This match funding along with the British Government funding announced in May 2019 brings the total investment to £1.2 billion.

The Executive has also agreed to provide up to an additional £100 million for complementary projects where partners can demonstrate a viable capital project which is complementary to the City/Growth Deal proposals.

Finance Minister Conor Murphy said: “This investment package signals our desire to build a productive, regionally balanced and inclusive economy.

“The Executive is currently reacting to the COVID-19 emergency. We have already provided over £500 million in grants and rates relief to support businesses survive the ongoing pandemic.

"We also need to plan for the longer-term. This investment of over £700 million provide investment in local areas and much needed jobs and offers hope for the future.”

The Deputy First Minister, speaking the daily Coronavirus press conference, welcomed the deal.

The package provides at least £700 million for the Belfast Region (which includes Antrim and Newtownabbey, Ards and North Down, Lisburn and Castlereagh, Mid and East Antrim and Newry and Mourne council areas), £252 million for the Mid, South & West, £210 million for Derry City and Strabane and £72 million for Causeway Coast and Glens.

Colum Eastwood, Foyle MP and SDLP leader has also welcomed the new funding.

Colum Eastwood MP

The funding will complement funding announced for the North West including the Magee Medical School and will deliver a number of potential projects such as; Derry/Londonderry’s riverside development, Phase II of the Belfast Rapid Transit, extension of the Gobbins, Newry Southern Relief road and a visitor destination experience at the Mourne Mountains.