The Northern and Western Regional Assembly has launched a new six year investment programme totaling €217 million euro.
Following recent approval by the Irish government, the regional programme was submitted to the EU Commission for its final review and approval in recent days.
Assembly Director David Minton says the funds will build on previous funding that has improved almost every aspect of life in the region.
Money from the programme will be spent on projects such as building the capacity of the new Atlantic Technological University.
David Minton says the EU has always been a major contributor to the economy and it is a great investment in the young people, educational institutions and towns across the region.