NI Executive agrees City Deal match funding
The NI Executive has today agreed to match fund the Derry & Strabane City Deal/Inclusive Future Fund to the tune of around £100 million.
The British government announced £105m for the City Deal in May last year.
The Executive move brings the overall package to about £210m.
It’s understood the bulk of the City Deal funding is earmarked for Ulster University’s expansion and the medical school at the university’s Magee campus.
The expansion of the university and the medical college in the north-west has long been regarded as a catalyst for economic growth in the region.
The North’s deputy First Minister Michelle O’Neill welcomed today’s move and said it would be transformative for Derry and the NW.
She added that it went some way to “redress decades of underinvestment after years of hard work by political, community and business leaders.”