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Welsh Finance Minister Jane Hutt says the next round of programmes funded by European money must be more flexible, simpler and 'more focused' than in previous years. She was responding to the news that agreement has been reached paving the way for a new programme of funding worth £2bn to Wales.
She also said Welsh Government plans for a Metro scheme linking public transport in south eastern parts of Wales will be a likely beneficiary of the money.
The Welsh Government has welcomed the agreement on how the next £2 billion of European aid will be spent in Wales. The minister who negotiated the deal, Jane Hutt, says that it will deliver real economic growth and jobs.
There's been criticism that previous rounds of European aid have been spent on too many small projects, which though worthwhile in themselves did not improve the prosperity of West Wales and the Valleys. The area remains one of the poorest parts of the entire European Union.
One of the main beneficiaries of the new funding will be the South East Wales metro plan to improve public transport, after the Welsh Government successfully argued in Brussels that some of the money had to be spent on transport if the aid programme was to achieve any lasting economic improvement.
A deal's been formally struck for Wales to get almost £2bn of European aid.
The cash, over the next six years, will be used to help tackle unemployment and boost economic growth.
Another £509m pounds will be used for rural development.
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The European Commission has signed up to the Welsh Government's plan for spending £2billion of EU aid over the next six years.