The NI Executive and the UK government has committed £1.2bn capital funding over the next 15 years to four Northern Ireland City and Growth Deals: Belfast Region City Deal (£700m); Derry City and Strabane City Deal (£210m); Causeway Coast and Glens Growth Deal (£72m), and Mid South West Region Growth Deal (£252m). This once in a generation package will also be complemented by private sector and other sources of funding.
The implementation of City and Growth Deals has been deemed a priority for delivery by the NI Executive and the Department of Finance (DoF) leads the delivery of the overall programme.
The Department for the Economy (DfE) is the accountable department for an estimated £800m of investment across approximately 40 innovation, digital and tourism projects.
DfE, in conjunction with its arm’s length bodies Invest NI and Tourism NI, works closely with Deal Owners and Project Promoters to ensure that projects demonstrate value for money and are financially sustainable. Projects will be set in the context of the Economic Recovery Action Plan, 10x Decade of Innovation, and the Energy Strategy to decarbonise Northern Ireland energy sector by 2050.