Structural Funds are a major source of funding for Wales and the 2007-2013 programmes were worth £3.5 billion to the Welsh economy.
Different regions of Wales qualified for three distinct European programmes. West Wales and the Valleys qualified for the Convergence programme, East Wales qualified for the Regional Competitiveness and Employment programme, and the West coast of Wales and the East coast of Ireland made up the Ireland-Wales Cross-border Co-operation programme.
The West Wales and the Valleys region, covers 15 local authority areas (Blaenau Gwent, Bridgend, Caerphilly, Carmarthenshire, Ceredigion, Conwy, Denbighshire, Gwynedd, Merthyr Tydfil, Neath Port Talbot, Pembrokeshire, Rhondda Cynon Taff, Swansea, Torfaen and Ynys Mon), has been awarded the highest level of support from the European Union for the Structural Funds programming round 2014-2020.
The main advantages of European funding:
- It can provide approximately 50-75 per cent of a total project cost for up to three years
- Existing funding, staff and volunteer time can be used as match funding to drawn down EU grant
- It delivers on Government priorities and can help to demonstrate how your work fits with these
- It is possible to trial innovative approaches
The main disadvantages of European funding:
Last Modified: 05/12/2018
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- Processes are bureaucratic
- There is often a long lead in time for projects to be implemented
- Project ideas must fit with Government priorities