The State is to receive some €750 million in cohesion funding from the European Commission over the next seven years, after agreement was reached on how this money will be spent.
Announcing details of the funding yesterday, the commission said the National Strategic Reference Framework (NSRF), negotiated over the past few months and sent to it in March, had set out in "broad terms" how the funding will be invested.
It said the NSRF will invest the money to deliver growth and jobs, strengthen human capital, and ensure balanced development and the reduction of regional disparities.
According to the EU commissioner for regional policy, Danuta Hübner, Ireland has been "one of the best examples of how cohesion policy can be used to help create growth and jobs."
She added that 83 per cent of investment has been earmarked in line with the priorities of the Lisbon strategy for jobs and growth. Ireland's priorities for the south, the east and Border-midlands-west regions between 2007-2013 include:
To promote investment in human capital by upskilling the workforce, increasing labour market participation, and allowing groups outside the labour market to enter the workforce. Particular focus will be put on women, people with disabilities, lone parents, Travellers (the Roma community) and ex-offenders. A special programme will also target migrants.
Support innovation, knowledge and entrepreneurship in the regions. The aim is to double the number of PhD graduates during the period.
Strengthen the competitiveness, attractiveness and connectivity of the National Spatial Strategy as defined by the Government.
The priorities of the NSRF will take shape through three programmes which are expected to be adopted by the end of the year.