MERSEYSIDE is set to benefit from another wave of European funding which could reach as much as £480m.
Earlier in the month, European leaders agreed the budget level for the union for 2014 to 2020.
According to sources, 31.6bn euros was set aside for so-called “transition regions” – areas where GDP is between 75% and 90% of the EU average.
The Liverpool city region, which takes in the five Merseyside councils and Halton, sits in that category and is in line for between £320m and £480m over the seven-year budget period.
Merseyside politicians argued loudly in Brussels for the creation of specific funding for transition regions – areas which were once the poorest but have improved their economic standing over the past 20 years.
Liverpool’s Deputy Mayor Paul Brant said: “I’m delighted that the city’s campaign to have transition fund status funding was successful.
“The UK Government argued against it, but I am pleased that the EU has seen the merits of funding for the Liverpool city region.
“I have campaigned alongside our Labour Euro-MPs to ensure that this much-needed funding stream is available to continue our economic regeneration.
“The council will now work closely with employers and the trade unions to ensure we create sustainable jobs accessible to people from this programme.”
Merseyside’s love affair with continental funding started in 1994 when £700m was allocated under the Objective 1 regeneration programme.