New European aid for North linked to peace

Two new European funding schemes worth euro 1

Two new European funding schemes worth euro 1.2 billion to Northern Ireland were today hailed as fresh proof of the prosperity "conflict resolution" brings.

The PEACE II and Building Sustainable Prosperity programmes were set to be rubber stamped during a signing ceremony at Stormont today.

European Commissioner for Regional Policy Mr Michel Barnier was expected to join First Minister Mr David Trimble and Deputy First Minister Mr Seamus Mallon for the event, which will put in place EU Structural Funds for Northern Ireland.

The Minister for Social, Community and Family Affairs Mr Ahern was also expected to sign the programme as Border regions in the State benefit by euro 91 million.

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Stormont Finance Minister Mr Mark Durkan described the projects as a direct response from the EU to the Belfast Agreement.

"Today's announcement represents a major investment in building peace and sustainable prosperity for everyone," he said.

The PEACE II programme - worth an additional euro 366 million to the North - has been targeted at achieving economic renewal and social integration in areas most scarred by the conflict.

Cash from the scheme is due to begin flowing into projects that meet the requirements by September of this year.

The Building Sustainable Prosperity scheme provides euro 862 million to the North, which no longer meets EU Structural Funding Objective 1 criteria.

Focusing on improving the North's infrastructure, increasing workforce skills and making the region more competitive, it contains transitional funding to help adjust to the lower level of support.

PA