Convergence
The West Wales and the Valleys region has been awarded the highest level of support known as Convergence, from the European Union for the Structural Funds programming round 2007-2013.
The Convergence programme is the successor to the Objective 1 programme 2000-2006 and covers 15 local authority areas in the West Wales and the Valleys region.
The Convergence programmes comprise funding from two separate European Structural Funds: the European Regional Development Fund (ERDF) and the European Social Fund (ESF).
Around £1 billion of ERDF funds will help progress the region’s transformation into a sustainable and competitive economy by investing in the knowledge economy and helping new and existing businesses to grow.
It will also focus on regenerating Wales’ most deprived communities, tackling climate change and improving transport.
Over £690 million from the ESF will be used to tackle economic inactivity, increase skills and employment.
Together, with match funding, Convergence will drive a total investment of £3.5 billion in West Wales and the Valleys.
The 4 local authorities in South West Wales namely Carmarthenshire, Neath Port Talbot, Pembrokeshire and Swansea, have been working together to maximise the benefits from Convergence funding. The Local authorities, under the banner of the Regional Partnership Forum for South West Wales, have responded to the challenges set by the Welsh Assembly Government for the public sector to increase efficiencies through joint working. This collaborative approach is already leading to increased efficiency, simpler ways of working and the sharing of best practice.
Key projects have been developed and approved in the region totalling an investment of over £190m with the focus very much on jobs and growth. For further information
click here.
Further information (WEFO):
http://wefo.wales.gov.uk/programmes/convergence