European backing for Welsh projects

Welsh regeneration projects should continue being funded by the
European Union after it is enlarged in May, says a European
Commission report.

The Third Report on Economic and Social Cohesion, which sets out
funding proposals for the enlarged EU of 25 members, recommends
west Wales and the Valleys receive about 74 per cent of full
Objective One grant over the next six-year tranche of the
programme.

It had been feared many Objective One projects could be lost
because of a redistribution of funding when the EU expands.

Of the other areas in the UK receiving Objective One funding-
Cornwall and the Isles of Scilly, South Yorkshire and Merseyside –
only Cornwall is likely to be eligible.