'Milestone' marked in Derry and Strabane council City Deal

The Derry/Londonderry and Strabane City Deal has moved a step closer with the signing of the Heads of Terms.

Some £210m in funding is being provided equally by the Executive and the Westminster Government, as well as a further £40m investment from Derry City and Strabane District Council.

It is set to support the new Graduate Entry Medical School at Magee as well as projects in digital communications.

Northern Ireland Secretary Brandon Lewis Secretary, alongside Executive ministers, and local partners, signed the Heads of Terms on Wednesday.

Mr Lewis said the funding is to support and encourage economic development across the region, create jobs, boost opportunity and encourage further inward investment.

“Today’s announcement is part of the UK Government’s commitment to developing and delivering a comprehensive and ambitious set of City Deals across Northern Ireland and delivering a stronger economy that works for everyone," the secretary of state said.

First Minister Arlene Foster said it is an "important milestone" in the progress of the City Deal.

"There is a real sense of vibrancy and ambition in the North West. The Executive is working with the UK Government, the council and a wide range of stakeholders to turn that potential into reality through collaboration and innovation," she said.

Deputy First Minister Michelle O'Neill said: "Our investment in the Derry City and Strabane District Council City Deal is a mark of that commitment.

"Alongside the many ongoing projects to transform the area, this will be a game-changer for the regional economy, driving growth and creating opportunities for people."

Mayor of Derry City and Strabane Brian Tierney said it is the "single largest investment by Government to our region".

He added: "A funding package of this scale and magnitude will be felt not only in the Derry City and Strabane District Council area, but across the wider North West region and beyond, and will deliver a stronger, more resilient and regionally balanced economy."