Wales to increase funding through EU collaborative projects

Welsh GovernmentBusiness Minister for Wales Jane Hutt is set to increase the value of EU investments from collaborative projects with other EU regions to help boost the Welsh economy.

Launching Wales’ European Territorial Cooperation (ETC) programmes action plan, the Minister will highlight the collaborative opportunities for Welsh businesses that will drive economic growth and create new jobs.

The Minister said: “The EU’s key programmes for supporting co-operation between partners across national borders and regions have paved the way for many fruitful partnerships over the years.

“Looking ahead, we are committed to strengthening relations between regions building on partnerships and networks to increase joint working so we achieve maximum benefit for our region.

“This source of funding is additional to the Structural Funds that Wales receives and provides many opportunities for collaborative projects with our European counterparts.  It is yet another example of how UK membership of the EU is vital to sustainable growth and jobs in Wales.”

The strategic initiative will bring experts together from across Europe to develop the potential of sustainable energy. Its aim was to reduce CO2 emissions and dependency on unsustainable energy sources in North West Europe by developing algae-based fuel as a renewable power source.

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