A NEW £100 million regeneration funding programme has been launched, Friday October 20.

Welsh Government, cabinet secretary for communities and children, Carl Sargeant launched the targeted investment programme on Friday, October 20.

The programme will enable local authorities, along with partner organisations, to apply for capital investment for projects that promote economic regeneration and serve the aims of wider sustainable development with activities focussed on the individuals and areas most in need.

Mr Sargeant said the programme had a crucial part to play in driving prosperity and building resilient communities in all parts of Wales, rather than just in those areas that offer the best commercial returns.

He said: “There are particular challenges around tackling inequality and developing well-connected and sustainable communities in areas which are economically disadvantaged or blighted by earlier heavy industries. We also recognise there are different challenges in rural areas.

"Local authorities and regional partnerships should use these funds to complement and reinforce the other investments we are making to widen prosperity such as the work being pursued under the City Deals, our investment in the Metros, proposals from the Valleys Taskforce and with the work to prepare for Wylfa Newydd.

"I am also keen that this new capital investment should act in support of the other programmes underway seeking to build more resilient communities, including our employability and skills programmes."

Vale council cabinet member for regeneration and planning, Cllr Jonathan Bird said: “The Vale of Glamorgan Council will be working with authorities in the City Region and other partner organisations to maximise the potential of the Welsh Government new Targeted Regeneration and Investment Programme.

“We hope that the new programme, which will commence in the next financial year, will deliver benefits right across the City Region and the Council would point to its Barry Town Centre Gateway Regeneration project, agreed by Cabinet on April, 24 as the type of scheme that could be supported through it.”

In 2014 the Welsh Government gave Barry £1 million following its unsuccessful bid for a share of £15.1 million.

The then Welsh Government housing and regeneration minister, Carl Sargeant allocated the sum to the seven unsuccessful authorities, including Barry, who had bid to help deprived areas in Wales.