Press Release: Commission approves EUR 2.7 billion aid for Northern Ireland

On 18.12.00, the European Commission, in agreement with the new Northern Ireland Administration, approved a €2.7 billion programme of assistance for economic and social development in Northern Ireland over the period 2000-2006. This 'Community Support Framework' (CSF) has two distinct component parts: the 'Objective 1' transition programme and the second European Union Programme for Peace and Reconciliation. The transition programme applies because the region no longer features among Europe's poorest; its income (GDP) per head is above the threshold figure of 75% of the Community average and European aid is accordingly being reduced on a gradual basis. The Programme for Peace and Reconciliation reflects the European Union's support for the consolidation of the peace process in Northern Ireland. In total, the Union will contribute €1.315 billion out of a total of almost €2.745 billion, for both parts of the CSF. Some €0.588 billion will come from the Northern Ireland public sector with €0.842 billion expected from private investors.